CenterBook Partners LP Raises Stock Position in HDFC Bank Limited $HDB

CenterBook Partners LP grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 136.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,412 shares of the bank’s stock after purchasing an additional 21,007 shares during the period. CenterBook Partners LP’s holdings in HDFC Bank were worth $1,244,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of 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, HDFC Bank presently has a consensus rating of “Hold”.

HDFC Bank Stock Up 1.2%

Shares of NYSE:HDB opened at $33.11 on Friday. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The stock has a market cap of $168.88 billion, a P/E ratio of 19.88, a PEG ratio of 1.36 and a beta of 0.57. The business has a fifty day moving average of $33.94 and a two-hundred day moving average of $35.27.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The firm had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $5.12 billion. On average, equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current 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).