Perpetual Ltd Boosts Holdings in HDFC Bank Limited $HDB

Perpetual Ltd increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 102.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,226,964 shares of the bank’s stock after acquiring an additional 1,125,130 shares during the quarter. Perpetual Ltd’s holdings in HDFC Bank were worth $76,073,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Central Pacific Bank Trust Division purchased a new position in shares of HDFC Bank during the second quarter worth about $29,000. Roxbury Financial LLC acquired a new stake in shares of HDFC Bank in the 2nd quarter valued at about $30,000. Whipplewood Advisors LLC boosted its position in shares of 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. NewSquare Capital LLC grew its stake in HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares during the last quarter. Finally, Assetmark Inc. increased its position in HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after buying an additional 552 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HDB shares. Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a report on Tuesday. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, HDFC Bank presently has a consensus rating of “Moderate Buy”.

HDFC Bank Trading Up 2.2%

Shares of HDB stock opened at $35.92 on Friday. The company has a market capitalization of $183.25 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 1.58 and a beta of 0.58. The business’s 50 day moving average is $36.17 and its two-hundred day moving average is $36.62. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

About HDFC Bank

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).