Matrix Trust Co Invests $974,000 in HDFC Bank Limited $HDB

Matrix Trust Co bought a new stake in HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,506 shares of the bank’s stock, valued at approximately $974,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Central Pacific Bank Trust Division boosted its stake in HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of HDFC Bank in the 2nd quarter valued at about $30,000. Whipplewood Advisors LLC boosted its position in shares of HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after purchasing an additional 290 shares during the period. NewSquare Capital LLC boosted its position in shares of HDFC Bank by 136.4% in the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after purchasing an additional 390 shares during the period. Finally, Assetmark Inc. increased its position in HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after buying an additional 552 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on HDB. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a report on Tuesday, December 16th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

HDFC Bank Stock Performance

HDFC Bank stock opened at $36.27 on Tuesday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The firm has a market capitalization of $185.01 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The stock’s fifty day moving average is $36.19 and its two-hundred day moving average is $36.59.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).