Boston Partners boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 892,504 shares of the bank’s stock after purchasing an additional 117,016 shares during the period. Boston Partners’ holdings in HDFC Bank were worth $62,208,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. D1 Capital Partners L.P. acquired a new position in HDFC Bank during the 1st quarter worth approximately $199,877,000. Sustainable Growth Advisers LP increased its holdings in HDFC Bank by 63.2% in the 2nd quarter. Sustainable Growth Advisers LP now owns 6,786,863 shares of the bank’s stock worth $473,044,000 after purchasing an additional 2,627,482 shares in the last quarter. Egerton Capital UK LLP bought a new stake in shares of HDFC Bank during the first quarter worth about $156,500,000. BlackRock Inc. grew its holdings in HDFC Bank by 57.1% during the 1st quarter. BlackRock Inc. now owns 4,838,182 shares of the bank’s stock worth $296,725,000 after acquiring an additional 1,757,638 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of HDFC Bank by 24.7% in the first quarter. Ameriprise Financial Inc. now owns 8,419,580 shares of the bank’s stock worth $557,791,000 after purchasing an additional 1,667,336 shares during the last quarter. Institutional investors own 17.24% of the company’s stock.
Wall Street Analysts Forecast Growth
HDB has been the subject of several recent analyst reports. TheStreet cut shares of HDFC Bank from a “b-” rating to a “c” rating in a research report on Tuesday, October 17th. StockNews.com began coverage on shares of HDFC Bank in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group raised HDFC Bank from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 21st.
HDFC Bank Stock Performance
HDB stock opened at $58.14 on Friday. The firm has a market cap of $108.13 billion, a PE ratio of 17.89, a P/E/G ratio of 1.45 and a beta of 0.78. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.79. The business has a 50 day moving average of $58.91 and a 200-day moving average of $63.80. HDFC Bank Limited has a 12-month low of $55.95 and a 12-month high of $71.76.
HDFC Bank (NYSE:HDB – Get Free Report) last announced its quarterly earnings data on Monday, October 16th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.35. HDFC Bank had a return on equity of 16.81% and a net margin of 19.47%. The company had revenue of $8.02 billion during the quarter. As a group, sell-side analysts expect that HDFC Bank Limited will post 2.78 earnings per share 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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