State of New Jersey Common Pension Fund D Raises Holdings in HDFC Bank Limited $HDB

State of New Jersey Common Pension Fund D lifted its stake in HDFC Bank Limited (NYSE:HDB) by 1.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,170,223 shares of the bank’s stock after purchasing an additional 13,825 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in HDFC Bank were worth $89,721,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HDB. Central Pacific Bank Trust Division bought a new position in shares of HDFC Bank in the 2nd quarter worth $29,000. Roxbury Financial LLC acquired a new stake in HDFC Bank in the second quarter worth about $30,000. Larson Financial Group LLC boosted its holdings in HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after purchasing an additional 507 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in shares of HDFC Bank in the first quarter valued at about $61,000. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

NYSE:HDB opened at $36.81 on Friday. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The stock has a market cap of $187.77 billion, a PE ratio of 22.38, a P/E/G ratio of 1.94 and a beta of 0.63. The stock has a 50 day moving average price of $35.52 and a 200 day moving average price of $36.54.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.07% and a net margin of 14.94%.The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HDB has been the topic of a number of research reports. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, HDFC Bank presently has an average rating of “Moderate Buy”.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.