Factory Mutual Insurance Co. Takes Position in HDFC Bank Limited $HDB

Factory Mutual Insurance Co. purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 156,328 shares of the bank’s stock, valued at approximately $5,340,000.

A number of other hedge funds have also recently added to or reduced their stakes in HDB. Hudson Edge Investment Partners Inc. raised its stake in shares of HDFC Bank by 100.6% during the third quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock valued at $51,452,000 after acquiring an additional 755,200 shares during the last quarter. ABN Amro Investment Solutions increased its holdings in HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock valued at $7,141,000 after purchasing an additional 104,525 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in HDFC Bank by 102.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock valued at $80,936,000 after purchasing an additional 1,199,084 shares during the period. Cabot Wealth Management Inc. raised its position in HDFC Bank by 97.0% during the 3rd quarter. Cabot Wealth Management Inc. now owns 575,800 shares of the bank’s stock worth $19,669,000 after purchasing an additional 283,520 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in HDFC Bank by 77.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank’s stock worth $57,641,000 after buying an additional 735,409 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 1.9%

HDB stock opened at $32.73 on Friday. The firm has a market cap of $166.95 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.39 and a beta of 0.57. The stock has a 50-day moving average price of $34.00 and a 200-day moving average price of $35.30. HDFC Bank Limited has a 1-year low of $29.23 and a 1-year high of $39.81.

HDFC Bank (NYSE:HDB) last announced its earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in 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 HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, HDFC Bank presently has a consensus 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).