Aberdeen Group plc Buys 526,654 Shares of HDFC Bank Limited $HDB

Aberdeen Group plc grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 88.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,120,813 shares of the bank’s stock after acquiring an additional 526,654 shares during the period. Aberdeen Group plc’s holdings in HDFC Bank were worth $38,169,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of HDFC Bank by 150.1% in 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 acquiring an additional 6,963,646 shares during the period. C WorldWide Group Holding A S lifted its stake 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 buying an additional 5,345,005 shares during the period. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $348,741,000 after buying an additional 4,810,042 shares during the last quarter. PineStone Asset Management Inc. grew its position in HDFC Bank by 100.4% during the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after purchasing an additional 4,089,267 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in shares of HDFC Bank by 97.1% during the 3rd quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock valued at $232,521,000 after purchasing an additional 3,353,109 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Down 1.2%

HDB stock opened at $32.47 on Tuesday. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81. The company has a market capitalization of $165.65 billion, a P/E ratio of 19.50, a PEG ratio of 1.32 and a beta of 0.57. The business has a 50 day simple moving average of $34.15 and a 200-day simple moving average of $35.38.

HDFC Bank (NYSE:HDB) last announced its earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $16.48 billion during the quarter, compared to analysts’ expectations of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. Research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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).