Ninety One UK Ltd lifted its position in HDFC Bank Limited (NYSE:HDB – Free Report) by 24.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,572,292 shares of the bank’s stock after acquiring an additional 510,559 shares during the period. Ninety One UK Ltd owned about 0.14% of HDFC Bank worth $151,791,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in HDB. Private Advisor Group LLC grew its position in HDFC Bank by 6.2% during the first quarter. Private Advisor Group LLC now owns 8,761 shares of the bank’s stock valued at $537,000 after purchasing an additional 511 shares in the last quarter. BlackRock Inc. grew its position in HDFC Bank by 57.1% during the first quarter. BlackRock Inc. now owns 4,838,182 shares of the bank’s stock valued at $296,725,000 after purchasing an additional 1,757,638 shares in the last quarter. Raymond James Trust N.A. grew its position in HDFC Bank by 6.1% during the first quarter. Raymond James Trust N.A. now owns 7,350 shares of the bank’s stock valued at $451,000 after purchasing an additional 421 shares in the last quarter. Blair William & Co. IL grew its position in HDFC Bank by 19.5% during the first quarter. Blair William & Co. IL now owns 17,819 shares of the bank’s stock valued at $1,093,000 after purchasing an additional 2,903 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in HDFC Bank by 6.5% during the first quarter. Candriam Luxembourg S.C.A. now owns 38,877 shares of the bank’s stock valued at $2,384,000 after purchasing an additional 2,387 shares in the last quarter. 17.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on HDB. TheStreet downgraded shares of HDFC Bank from a “b-” rating to a “c” rating in a research report on Tuesday, October 17th. StockNews.com started coverage on shares of HDFC Bank in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group upgraded shares of HDFC Bank from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, September 21st.
HDFC Bank Stock Performance
Shares of HDFC Bank stock traded up $0.92 on Thursday, reaching $66.84. The stock had a trading volume of 1,060,231 shares, compared to its average volume of 1,819,547. The business’s 50-day moving average price is $59.04 and its two-hundred day moving average price is $63.08. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.51 and a current ratio of 0.51. HDFC Bank Limited has a fifty-two week low of $55.95 and a fifty-two week high of $71.76. The stock has a market cap of $124.32 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77.
HDFC Bank (NYSE:HDB – Get Free Report) last issued its quarterly earnings data on Monday, October 16th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. HDFC Bank had a net margin of 19.47% and a return on equity of 16.81%. The business had revenue of $8.02 billion during the quarter. On average, sell-side analysts forecast that HDFC Bank Limited will post 2.78 EPS for the current year.
HDFC Bank Profile
HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.
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