HDFC Bank Limited $HDB Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its stake in HDFC Bank Limited (NYSE:HDB) by 87.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 426,266 shares of the bank’s stock after acquiring an additional 199,389 shares during the period. Oppenheimer Asset Management Inc.’s holdings in HDFC Bank were worth $14,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. grew its stake in shares of HDFC Bank by 100.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 158,056 shares of the bank’s stock valued at $5,399,000 after purchasing an additional 79,028 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of HDFC Bank by 100.8% during the third quarter. Smartleaf Asset Management LLC now owns 3,936 shares of the bank’s stock worth $134,000 after purchasing an additional 1,976 shares during the period. Alps Advisors Inc. grew its position in HDFC Bank by 100.0% in the 3rd quarter. Alps Advisors Inc. now owns 102,000 shares of the bank’s stock valued at $3,484,000 after buying an additional 51,000 shares during the last quarter. State of Michigan Retirement System grew its position in HDFC Bank by 100.0% in the 3rd quarter. State of Michigan Retirement System now owns 448,600 shares of the bank’s stock valued at $15,324,000 after buying an additional 224,300 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in HDFC Bank by 100.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,790 shares of the bank’s stock valued at $1,325,000 after buying an additional 19,421 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented 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 raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

HDFC Bank Trading Down 1.7%

Shares of HDB opened at $33.87 on Tuesday. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81. The firm has a market capitalization of $172.79 billion, a P/E ratio of 20.34, a PEG ratio of 1.40 and a beta of 0.57. The firm’s 50-day moving average is $34.42 and its two-hundred day moving average is $35.57.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results 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 during 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%. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

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).