HDFC Bank Limited $HDB Stock Position Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in HDFC Bank Limited (NYSE:HDB) by 102.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,369,307 shares of the bank’s stock after purchasing an additional 1,199,084 shares during the period. State of New Jersey Common Pension Fund D’s holdings in HDFC Bank were worth $80,936,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Hudson Edge Investment Partners Inc. boosted its stake in shares of HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock worth $51,452,000 after acquiring an additional 755,200 shares in the last quarter. Cabot Wealth Management Inc. raised its position in shares of HDFC Bank by 97.0% during the third quarter. Cabot Wealth Management Inc. now owns 575,800 shares of the bank’s stock worth $19,669,000 after purchasing an additional 283,520 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of HDFC Bank by 77.3% during the third quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank’s stock valued at $57,641,000 after purchasing an additional 735,409 shares during the last quarter. Baillie Gifford & Co. increased its stake in HDFC Bank by 97.1% in the 3rd quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after purchasing an additional 3,353,109 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in HDFC Bank by 67.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,015,297 shares of the bank’s stock worth $68,843,000 after buying an additional 808,472 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HDB shares. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, HDFC Bank currently has an average rating of “Hold”.

HDFC Bank Price Performance

NYSE HDB opened at $32.47 on Friday. The firm has a market capitalization of $165.65 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. The company has a 50 day simple moving average of $34.20 and a 200-day simple moving average of $35.44. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The firm had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. On average, analysts predict that HDFC Bank Limited will post 3.03 EPS for the current 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).