JARISLOWSKY FRASER Ltd Purchases 1,501,721 Shares of HDFC Bank Limited $HDB

JARISLOWSKY FRASER Ltd boosted its position in HDFC Bank Limited (NYSE:HDB) by 82.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317,169 shares of the bank’s stock after purchasing an additional 1,501,721 shares during the quarter. JARISLOWSKY FRASER Ltd owned about 0.07% of HDFC Bank worth $113,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Ieq Capital LLC raised its position in shares of HDFC Bank by 7.1% in the first quarter. Ieq Capital LLC now owns 4,456 shares of the bank’s stock worth $296,000 after buying an additional 294 shares in the last quarter. Graham Capital Management L.P. raised its holdings in shares of HDFC Bank by 33.7% in the 1st quarter. Graham Capital Management L.P. now owns 12,372 shares of the bank’s stock valued at $822,000 after acquiring an additional 3,115 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in shares of HDFC Bank by 112.2% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,947 shares of the bank’s stock valued at $594,000 after acquiring an additional 4,730 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of HDFC Bank by 8.8% during the 1st quarter. Advisors Asset Management Inc. now owns 35,476 shares of the bank’s stock valued at $2,357,000 after acquiring an additional 2,882 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of HDFC Bank by 9.7% during the first quarter. AQR Capital Management LLC now owns 82,978 shares of the bank’s stock worth $5,496,000 after purchasing an additional 7,306 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HDB has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $36.46 on Friday. The stock has a market capitalization of $185.99 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57. The company has a fifty day moving average of $36.21 and a 200-day moving average of $36.52. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. On average, equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Profile

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).