BI Asset Management Fondsmaeglerselskab A S Has $33.52 Million Stock Position in HDFC Bank Limited $HDB

BI Asset Management Fondsmaeglerselskab A S boosted its position in HDFC Bank Limited (NYSE:HDB) by 111.5% during the 3rd quarter, Holdings Channel reports. The fund owned 981,320 shares of the bank’s stock after buying an additional 517,241 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in HDFC Bank were worth $33,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HDB. Savant Capital LLC raised its position in shares of HDFC Bank by 36.7% during the third quarter. Savant Capital LLC now owns 6,729 shares of the bank’s stock worth $230,000 after purchasing an additional 1,807 shares during the period. Envestnet Asset Management Inc. increased its stake in HDFC Bank by 67.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,015,297 shares of the bank’s stock valued at $68,843,000 after purchasing an additional 808,472 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of HDFC Bank by 174.2% in the third quarter. Hantz Financial Services Inc. now owns 192,109 shares of the bank’s stock valued at $6,562,000 after buying an additional 122,039 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in shares of HDFC Bank by 95.7% in the third quarter. Physician Wealth Advisors Inc. now owns 1,552 shares of the bank’s stock valued at $53,000 after buying an additional 759 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of HDFC Bank by 95.1% during the third quarter. Allianz Asset Management GmbH now owns 404,654 shares of the bank’s stock worth $13,823,000 after acquiring an additional 197,199 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the topic of several recent research reports. 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 report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

HDFC Bank Stock Performance

NYSE:HDB opened at $33.94 on Thursday. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81. The firm has a 50-day moving average price of $34.55 and a two-hundred day moving average price of $35.70. The firm has a market cap of $173.14 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last released 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 company had revenue of $16.48 billion during the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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).