JPMorgan Chase & Co. Boosts Holdings in HDFC Bank Limited $HDB

JPMorgan Chase & Co. raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 104.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,204,783 shares of the bank’s stock after buying an additional 9,808,890 shares during the quarter. JPMorgan Chase & Co.’s holdings in HDFC Bank were worth $656,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of HDFC Bank by 150.1% during 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 acquiring an additional 6,963,646 shares during the last quarter. Schroder Investment Management Group increased its holdings in HDFC Bank by 19.0% during the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after purchasing an additional 1,692,243 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of HDFC Bank by 89.1% during 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 buying an additional 4,810,042 shares during the period. C WorldWide Group Holding A S raised its holdings in shares of HDFC Bank by 133.0% in the third quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock valued at $319,834,000 after acquiring an additional 5,345,005 shares in the last quarter. Finally, PineStone Asset Management Inc. increased its position in HDFC Bank by 100.4% during 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 period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. 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 HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

HDFC Bank Trading Up 0.8%

NYSE:HDB opened at $32.79 on Wednesday. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81. The company has a market cap of $167.28 billion, a PE ratio of 19.69, a P/E/G ratio of 1.32 and a beta of 0.57. The company’s 50 day moving average is $34.10 and its two-hundred day moving average is $35.34.

HDFC Bank (NYSE:HDB) last announced its 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 return on equity of 11.49% and a net margin of 14.92%.The business had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, analysts expect 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).