Tokio Marine Asset Management Co. Ltd. Acquires 287,200 Shares of HDFC Bank Limited $HDB

Tokio Marine Asset Management Co. Ltd. boosted its stake in HDFC Bank Limited (NYSE:HDB) by 114.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 538,000 shares of the bank’s stock after purchasing an additional 287,200 shares during the quarter. HDFC Bank comprises 0.7% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 28th biggest position. Tokio Marine Asset Management Co. Ltd.’s holdings in HDFC Bank were worth $18,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division grew its holdings in HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth about $30,000. Whipplewood Advisors LLC grew its position in 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. Park Place Capital Corp lifted its position in HDFC Bank by 100.0% in the 3rd quarter. Park Place Capital Corp now owns 1,426 shares of the bank’s stock valued at $49,000 after acquiring an additional 713 shares in the last quarter. Finally, NewSquare Capital LLC grew its holdings in HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $33.11 on Monday. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The firm has a market capitalization of $168.88 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.33 and a beta of 0.57. The stock has a 50 day moving average price of $35.88 and a 200-day moving average price of $36.37.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data 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. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%. On average, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

HDB has been the topic of several research analyst reports. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

HDFC Bank Company 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).