HDFC Bank Limited (NYSE:HDB) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its position in shares of HDFC Bank Limited (NYSE:HDB – Get Rating) by 41.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,203 shares of the bank’s stock after purchasing an additional 2,995 shares during the period. Assetmark Inc.’s holdings in HDFC Bank were worth $596,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. GQG Partners LLC raised its stake in shares of HDFC Bank by 1,376.7% in the second quarter. GQG Partners LLC now owns 12,417,079 shares of the bank’s stock valued at $682,892,000 after acquiring an additional 11,576,234 shares in the last quarter. Fiera Capital Corp raised its stake in shares of HDFC Bank by 8.7% in the second quarter. Fiera Capital Corp now owns 9,935,863 shares of the bank’s stock valued at $546,075,000 after acquiring an additional 793,115 shares in the last quarter. FMR LLC raised its stake in shares of HDFC Bank by 1.5% in the second quarter. FMR LLC now owns 7,587,089 shares of the bank’s stock valued at $416,987,000 after acquiring an additional 115,239 shares in the last quarter. Invesco Ltd. raised its stake in shares of HDFC Bank by 8.6% in the first quarter. Invesco Ltd. now owns 5,103,748 shares of the bank’s stock valued at $313,012,000 after acquiring an additional 402,245 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of HDFC Bank by 57.1% in the first quarter. BlackRock Inc. now owns 4,838,182 shares of the bank’s stock valued at $296,725,000 after acquiring an additional 1,757,638 shares in the last quarter. 17.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on HDFC Bank in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $69.45 on Friday. The firm has a market capitalization of $128.38 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The business’s fifty day moving average price is $68.25 and its 200 day moving average price is $63.66. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.35 and a quick ratio of 0.35. HDFC Bank Limited has a 12 month low of $50.61 and a 12 month high of $71.24.

HDFC Bank (NYSE:HDB – Get Rating) last posted its earnings results on Monday, October 17th. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.60 billion. HDFC Bank had a return on equity of 16.60% and a net margin of 23.11%. On average, sell-side analysts anticipate that HDFC Bank Limited will post 2.89 earnings per share for the current fiscal year.

HDFC Bank Company Profile

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HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company accepts savings, salary, current, rural, public provident fund, pension, and Demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, overdrafts against fixed deposits, and sweep-in facilities.