Profund Advisors LLC Increases Stock Position in HDFC Bank Limited $HDB

Profund Advisors LLC boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 105.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,844 shares of the bank’s stock after buying an additional 62,916 shares during the period. Profund Advisors LLC’s holdings in HDFC Bank were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Financial Perspectives Inc raised its stake in shares of HDFC Bank by 1.3% during the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock valued at $826,000 after purchasing an additional 136 shares during the period. Insigneo Advisory Services LLC increased its position in shares of HDFC Bank by 4.9% during the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after buying an additional 152 shares during the period. Huntington National Bank lifted its holdings in shares of HDFC Bank by 13.3% in the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock worth $103,000 after buying an additional 158 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after buying an additional 194 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in HDFC Bank by 1.5% during the second quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock valued at $1,152,000 after acquiring an additional 215 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

HDFC Bank Stock Performance

NYSE HDB opened at $34.43 on Monday. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The company has a fifty day moving average of $34.45 and a 200-day moving average of $35.61. 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.

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