AEGON ASSET MANAGEMENT UK Plc Increases Stake in HDFC Bank Limited $HDB

AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 53.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 374,399 shares of the bank’s stock after purchasing an additional 130,758 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in HDFC Bank were worth $12,782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in HDFC Bank by 150.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after buying an additional 6,963,646 shares during the last quarter. Schroder Investment Management Group increased its position in shares of HDFC Bank by 19.0% in the second quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock valued at $813,830,000 after acquiring an additional 1,692,243 shares during the period. Massachusetts Financial Services Co. MA raised 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 acquiring an additional 4,810,042 shares during the last quarter. PineStone Asset Management Inc. raised its stake in shares of HDFC Bank by 100.4% during the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after acquiring an additional 4,089,267 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of HDFC Bank by 97.1% during the third quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after purchasing an additional 3,353,109 shares during the period. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HDB. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, HDFC Bank currently has an average rating of “Reduce”.

HDFC Bank Stock Performance

HDB stock opened at $32.02 on Monday. The firm has a 50 day moving average price of $35.16 and a 200-day moving average price of $35.97. HDFC Bank Limited has a 52-week low of $29.04 and a 52-week high of $39.81. The firm has a market capitalization of $163.36 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.30 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $16.48 billion during the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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).