Bridgefront Capital LLC Acquires New Position in HDFC Bank Limited (NYSE:HDB)

Bridgefront Capital LLC acquired a new stake in HDFC Bank Limited (NYSE:HDB – Get Rating) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,755 shares of the bank’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its position in shares of HDFC Bank by 1,376.7% during the 2nd quarter. GQG Partners LLC now owns 12,417,079 shares of the bank’s stock valued at $682,892,000 after acquiring an additional 11,576,234 shares during the period. Lone Pine Capital LLC acquired a new stake in shares of HDFC Bank during the 3rd quarter valued at approximately $129,868,000. BlackRock Inc. lifted its position in shares of HDFC Bank by 57.1% during the 1st quarter. BlackRock Inc. now owns 4,838,182 shares of the bank’s stock valued at $296,725,000 after acquiring an additional 1,757,638 shares during the period. CCLA Investment Management acquired a new stake in shares of HDFC Bank during the 3rd quarter valued at approximately $98,820,000. Finally, Sands Capital Management LLC lifted its position in shares of HDFC Bank by 48.6% during the 3rd quarter. Sands Capital Management LLC now owns 3,160,823 shares of the bank’s stock valued at $184,655,000 after acquiring an additional 1,033,155 shares during the period. Institutional investors and hedge funds own 17.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of HDFC Bank in a research report on Thursday. They set a “hold” rating for the company.

HDFC Bank Trading Up 2.5 %

Shares of HDB opened at $63.89 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a 50 day simple moving average of $67.38 and a 200-day simple moving average of $65.44. HDFC Bank Limited has a 1-year low of $50.61 and a 1-year high of $71.76. The stock has a market cap of $118.10 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

HDFC Bank (NYSE:HDB – Get Rating) last issued its quarterly earnings data on Saturday, January 14th. The bank reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. HDFC Bank had a net margin of 22.90% and a return on equity of 16.86%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Equities analysts forecast that HDFC Bank Limited will post 2.91 EPS for the current fiscal year.

HDFC Bank Company Profile

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HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.