Acadian Asset Management LLC Raises Stake in HDFC Bank Limited $HDB

Acadian Asset Management LLC increased its stake in HDFC Bank Limited (NYSE:HDB) by 140.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 702,004 shares of the bank’s stock after purchasing an additional 410,517 shares during the quarter. Acadian Asset Management LLC’s holdings in HDFC Bank were worth $53,821,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HDB. New Vernon Capital Holdings II LLC purchased a new position in shares of HDFC Bank during the 1st quarter valued at $1,546,956,000. GQG Partners LLC grew its holdings in HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after acquiring an additional 8,313,645 shares during the last quarter. Royal Bank of Canada raised its holdings in HDFC Bank by 53.5% in the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after purchasing an additional 3,907,637 shares in the last quarter. JPMorgan Chase & Co. lifted its position in HDFC Bank by 2.1% during the first quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank’s stock valued at $638,934,000 after buying an additional 202,032 shares during the period. Finally, Temasek Holdings Private Ltd grew its holdings in HDFC Bank by 3.9% in the first quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock worth $591,028,000 after purchasing an additional 337,874 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.4%

HDFC Bank stock opened at $35.83 on Monday. The firm has a market cap of $182.80 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.92 and a beta of 0.69. The business has a fifty day moving average of $35.45 and a two-hundred day moving average of $36.71. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, HDFC Bank presently has an average rating of “Moderate Buy”.

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It 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, and overdrafts against fixed deposits.