Financiere des Professionnels Fonds d investissement inc. Raises Position in HDFC Bank Limited $HDB

Financiere des Professionnels Fonds d investissement inc. increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 96.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 347,360 shares of the bank’s stock after purchasing an additional 170,190 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in HDFC Bank were worth $11,866,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HDB. New Vernon Capital Holdings II LLC acquired a new position in HDFC Bank during the 1st quarter worth approximately $1,546,956,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in HDFC Bank by 3,715.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after acquiring an additional 4,089,647 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in HDFC Bank by 100.4% in the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after acquiring an additional 4,089,267 shares during the period. CCLA Investment Management boosted its position in shares of HDFC Bank by 104.2% during the 3rd quarter. CCLA Investment Management now owns 4,352,450 shares of the bank’s stock worth $148,952,000 after purchasing an additional 2,221,419 shares in the last quarter. Finally, M&G PLC grew its stake in shares of HDFC Bank by 184.2% during the 2nd quarter. M&G PLC now owns 3,407,929 shares of the bank’s stock worth $262,411,000 after purchasing an additional 2,208,824 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a report on Monday. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, HDFC Bank has an average rating of “Moderate Buy”.

HDFC Bank Price Performance

NYSE:HDB opened at $36.46 on Friday. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The firm has a 50 day simple moving average of $36.21 and a 200-day simple moving average of $36.52. The firm has a market cap of $185.99 billion, a PE ratio of 22.16, a P/E/G ratio of 1.64 and a beta of 0.57.

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