Aikya Investment Management Ltd Boosts Stock Holdings in HDFC Bank Limited $HDB

Aikya Investment Management Ltd lifted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 111.5% during the third quarter, Holdings Channel reports. The firm owned 4,328,795 shares of the bank’s stock after purchasing an additional 2,281,739 shares during the quarter. HDFC Bank makes up approximately 41.4% of Aikya Investment Management Ltd’s portfolio, making the stock its largest holding. Aikya Investment Management Ltd’s holdings in HDFC Bank were worth $147,872,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HDB. Robeco Institutional Asset Management B.V. boosted its position in shares of HDFC Bank by 150.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after buying an additional 6,963,646 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in HDFC Bank by 89.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock valued at $348,741,000 after acquiring an additional 4,810,042 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in shares of HDFC Bank by 100.4% in the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after purchasing an additional 4,089,267 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of HDFC Bank by 97.1% in the third quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after buying an additional 3,353,109 shares during the last quarter. Finally, Trinity Street Asset Management LLP lifted its holdings in HDFC Bank by 88.0% in the 3rd quarter. Trinity Street Asset Management LLP now owns 6,133,600 shares of the bank’s stock worth $209,524,000 after purchasing an additional 2,870,400 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $32.40 on Friday. The firm has a market cap of $165.30 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81. The business has a fifty day moving average of $34.71 and a 200-day moving average of $35.79.

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, topping analysts’ consensus estimates of $0.39 by $0.04. The company 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, analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on HDB shares. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, HDFC Bank has a consensus rating of “Hold”.

HDFC Bank Company 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).