Bank Pictet & Cie Europe AG Raises Stake in HDFC Bank Limited $HDB

Bank Pictet & Cie Europe AG boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 93.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,230 shares of the bank’s stock after purchasing an additional 39,756 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in HDFC Bank were worth $2,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HDB. Central Pacific Bank Trust Division boosted its position in shares of HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after purchasing an additional 379 shares in the last quarter. Roxbury Financial LLC purchased a new position in HDFC Bank during the second quarter valued at $30,000. Whipplewood Advisors LLC boosted its holdings in HDFC Bank by 112.0% in the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after acquiring an additional 290 shares in the last quarter. NewSquare Capital LLC boosted its holdings in HDFC Bank by 136.4% in the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after acquiring an additional 390 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after acquiring an additional 552 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

HDB has been the subject of several recent analyst reports. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $36.54 on Friday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The business has a 50-day simple moving average of $36.21 and a two-hundred day simple moving average of $36.52. The firm has a market cap of $186.41 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $4.98 billion. As a group, research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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).