Flossbach Von Storch SE Grows Stock Position in HDFC Bank Limited $HDB

Flossbach Von Storch SE grew its stake in HDFC Bank Limited (NYSE:HDB) by 103.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,982,810 shares of the bank’s stock after purchasing an additional 1,007,155 shares during the period. Flossbach Von Storch SE’s holdings in HDFC Bank were worth $67,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division raised its position in HDFC Bank by 100.0% during the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after purchasing an additional 322 shares in the last quarter. J.Safra Asset Management Corp grew its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock worth $35,000 after purchasing an additional 510 shares during the period. Roxbury Financial LLC grew its stake in shares of HDFC Bank by 194.9% during the 3rd quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after purchasing an additional 768 shares during the period. Finally, Whipplewood Advisors LLC increased its holdings in shares of HDFC Bank by 112.0% during 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 in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HDB. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $32.31 on Thursday. The firm has a fifty day moving average of $34.89 and a 200 day moving average of $35.86. The firm has a market cap of $164.80 billion, a PE ratio of 19.40, a PEG ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a one year low of $29.23 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last announced its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, equities analysts predict that HDFC Bank Limited will post 3.03 EPS 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).