Cabot Wealth Management Inc. Buys 283,520 Shares of HDFC Bank Limited $HDB

Cabot Wealth Management Inc. raised its stake in HDFC Bank Limited (NYSE:HDB) by 97.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 575,800 shares of the bank’s stock after buying an additional 283,520 shares during the period. HDFC Bank comprises about 2.2% of Cabot Wealth Management Inc.’s portfolio, making the stock its 13th biggest position. Cabot Wealth Management Inc.’s holdings in HDFC Bank were worth $19,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HDB. Hudson Edge Investment Partners Inc. boosted its position in shares of HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock worth $51,452,000 after purchasing an additional 755,200 shares in the last quarter. Freemont Capital Pte Ltd bought a new stake in HDFC Bank in the 2nd quarter valued at about $1,073,000. Baillie Gifford & Co. raised its stake in HDFC Bank by 97.1% during the 3rd quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after buying an additional 3,353,109 shares during the period. Helios Capital Management PTE. Ltd. boosted its holdings in HDFC Bank by 100.0% in the third quarter. Helios Capital Management PTE. Ltd. now owns 337,400 shares of the bank’s stock worth $11,526,000 after acquiring an additional 168,700 shares in the last quarter. Finally, PGGM Investments boosted its holdings in HDFC Bank by 100.0% in the third quarter. PGGM Investments now owns 3,799,908 shares of the bank’s stock worth $129,805,000 after acquiring an additional 1,899,954 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.2%

Shares of HDFC Bank stock opened at $32.02 on Monday. The business’s fifty day simple moving average is $35.16 and its 200 day simple moving average is $35.97. HDFC Bank Limited has a 12 month low of $29.04 and a 12 month high of $39.81. The firm has a market capitalization of $163.36 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.30 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last released its earnings results 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. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The firm had revenue of $16.48 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

HDFC Bank 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).