Diamond Hill Capital Management Inc. Raises Position in HDFC Bank Limited $HDB

Diamond Hill Capital Management Inc. lifted its stake in HDFC Bank Limited (NYSE:HDB) by 100.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,056 shares of the bank’s stock after purchasing an additional 79,028 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in HDFC Bank were worth $5,399,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in HDFC Bank by 100.8% in the third quarter. Smartleaf Asset Management LLC now owns 3,936 shares of the bank’s stock worth $134,000 after buying an additional 1,976 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of HDFC Bank by 100.0% in the third quarter. Alps Advisors Inc. now owns 102,000 shares of the bank’s stock valued at $3,484,000 after acquiring an additional 51,000 shares during the period. State of Michigan Retirement System lifted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. State of Michigan Retirement System now owns 448,600 shares of the bank’s stock worth $15,324,000 after acquiring an additional 224,300 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 100.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,790 shares of the bank’s stock worth $1,325,000 after acquiring an additional 19,421 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc purchased a new position in shares of HDFC Bank during the 3rd quarter worth about $321,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB stock opened at $34.43 on Monday. The company has a market capitalization of $175.64 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.40 and a beta of 0.57. The company’s 50-day simple moving average is $34.45 and its two-hundred day simple moving average is $35.61. HDFC Bank Limited has a one year low of $29.23 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.12 billion. On average, research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HDB has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

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).