Tobam Acquires 35,388 Shares of HDFC Bank Limited $HDB

Tobam lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 105.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,835 shares of the bank’s stock after buying an additional 35,388 shares during the quarter. Tobam’s holdings in HDFC Bank were worth $2,351,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in HDFC Bank by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 112,129 shares of the bank’s stock valued at $3,830,000 after acquiring an additional 53,855 shares during the last quarter. Todd Asset Management LLC boosted its stake in shares of HDFC Bank by 111.4% during the third quarter. Todd Asset Management LLC now owns 815,880 shares of the bank’s stock valued at $27,871,000 after purchasing an additional 429,869 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after purchasing an additional 9,808,890 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in HDFC Bank by 102.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after buying an additional 1,199,084 shares during the period. Finally, Avanda Investment Management Pte. Ltd. increased its stake in HDFC Bank by 100.0% in the 3rd quarter. Avanda Investment Management Pte. Ltd. now owns 4,736 shares of the bank’s stock worth $162,000 after buying an additional 2,368 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE HDB opened at $32.47 on Monday. The company has a market capitalization of $165.65 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. The company’s 50-day simple moving average is $34.20 and its two-hundred day simple moving average is $35.42. 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 quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The firm had revenue of $16.48 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports 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 raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock 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).