Baillie Gifford & Co. Buys 3,353,109 Shares of HDFC Bank Limited $HDB

Baillie Gifford & Co. lifted its position in HDFC Bank Limited (NYSE:HDB) by 97.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,806,818 shares of the bank’s stock after purchasing an additional 3,353,109 shares during the quarter. Baillie Gifford & Co. owned about 0.13% of HDFC Bank worth $232,521,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after buying an additional 322 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after acquiring an additional 510 shares during the last quarter. Roxbury Financial LLC grew its position in HDFC Bank by 194.9% in the third quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after acquiring an additional 768 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its stake in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after acquiring an additional 290 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 0.2%

HDB opened at $32.02 on Friday. The business has a fifty day moving average of $35.16 and a 200 day moving average of $36.00. The stock has a market cap of $163.36 billion, a P/E ratio of 19.23, a PEG ratio of 1.29 and a beta of 0.57. HDFC Bank Limited has a 52-week low of $29.04 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB) last released 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. The business had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. Equities analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

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).