Advisors Asset Management Inc. Has $2.37 Million Position in HDFC Bank Limited $HDB

Advisors Asset Management Inc. raised its position in HDFC Bank Limited (NYSE:HDB) by 94.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,271 shares of the bank’s stock after purchasing an additional 33,711 shares during the period. Advisors Asset Management Inc.’s holdings in HDFC Bank were worth $2,366,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its stake 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 worth $396,312,000 after buying an additional 6,963,646 shares during the period. Schroder Investment Management Group grew its stake in 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 increased its holdings in shares of HDFC Bank by 89.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after acquiring an additional 4,810,042 shares in the last quarter. C WorldWide Group Holding A S raised its position in shares of HDFC Bank by 133.0% during the third quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock worth $319,834,000 after purchasing an additional 5,345,005 shares during the period. Finally, PineStone Asset Management Inc. lifted its holdings in shares of HDFC Bank by 100.4% during the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after purchasing an additional 4,089,267 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

NYSE HDB opened at $32.47 on Monday. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81. The stock’s 50 day moving average price is $34.20 and its two-hundred day moving average price is $35.42. The stock has a market capitalization of $165.65 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.32 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $16.48 billion for the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

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