Schwartz Investment Counsel Inc. Acquires 50,050 Shares of HDFC Bank Limited $HDB

Schwartz Investment Counsel Inc. boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 100.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,100 shares of the bank’s stock after buying an additional 50,050 shares during the period. Schwartz Investment Counsel Inc.’s holdings in HDFC Bank were worth $3,419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HDB. Freemont Capital Pte Ltd purchased a new stake in shares of HDFC Bank during the 2nd quarter worth $1,073,000. Helios Capital Management PTE. Ltd. grew its stake in HDFC Bank by 100.0% in the third quarter. Helios Capital Management PTE. Ltd. now owns 337,400 shares of the bank’s stock valued at $11,526,000 after purchasing an additional 168,700 shares during the last quarter. PGGM Investments raised its holdings in HDFC Bank by 100.0% in the third quarter. PGGM Investments now owns 3,799,908 shares of the bank’s stock worth $129,805,000 after purchasing an additional 1,899,954 shares in the last quarter. PineStone Asset Management Inc. lifted its position in shares of HDFC Bank by 100.4% during 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 last quarter. Finally, S Bank Fund Management Ltd boosted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. S Bank Fund Management Ltd now owns 107,850 shares of the bank’s stock valued at $3,684,000 after buying an additional 53,925 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.5%

HDB stock opened at $32.66 on Monday. The stock has a market capitalization of $166.60 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a 52 week low of $29.01 and a 52 week high of $39.81. The firm has a 50 day moving average of $35.57 and a 200 day moving average of $36.17.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HDB shares. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, HDFC Bank has an average rating of “Moderate Buy”.

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).