S Bank Fund Management Ltd Buys 53,925 Shares of HDFC Bank Limited $HDB

S Bank Fund Management Ltd boosted its position in shares of HDFC Bank Limited (NYSE:HDB) by 100.0% in the third quarter, Holdings Channel.com reports. The firm owned 107,850 shares of the bank’s stock after acquiring an additional 53,925 shares during the period. S Bank Fund Management Ltd’s holdings in HDFC Bank were worth $3,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HDB. Freemont Capital Pte Ltd acquired a new stake in HDFC Bank in the 2nd quarter valued at about $1,073,000. Helios Capital Management PTE. Ltd. increased its position in HDFC Bank by 100.0% during the third quarter. Helios Capital Management PTE. Ltd. now owns 337,400 shares of the bank’s stock worth $11,526,000 after buying an additional 168,700 shares during the last quarter. PineStone Asset Management Inc. raised its stake in HDFC Bank by 100.4% in the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after buying an additional 4,089,267 shares during the period. Perpetual Ltd lifted its position in shares of HDFC Bank by 1.4% in the second quarter. Perpetual Ltd now owns 1,101,834 shares of the bank’s stock valued at $84,478,000 after buying an additional 15,227 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of HDFC Bank by 22.2% during the 2nd quarter. Lazard Asset Management LLC now owns 5,523,962 shares of the bank’s stock worth $423,520,000 after acquiring an additional 1,002,394 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

HDB has been the subject of several research reports. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Performance

HDB stock opened at $33.52 on Tuesday. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81. The company has a market capitalization of $170.98 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. The company’s 50-day simple moving average is $35.82 and its 200 day simple moving average is $36.33.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $4.98 billion. On average, analysts forecast 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).