Matthews International Capital Management LLC Raises Holdings in HDFC Bank Limited $HDB

Matthews International Capital Management LLC raised its holdings in HDFC Bank Limited (NYSE:HDB) by 82.8% during the third quarter, Holdings Channel.com reports. The firm owned 217,266 shares of the bank’s stock after purchasing an additional 98,430 shares during the period. HDFC Bank makes up 1.7% of Matthews International Capital Management LLC’s holdings, making the stock its 20th biggest holding. Matthews International Capital Management LLC’s holdings in HDFC Bank were worth $7,422,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HDB. New Vernon Capital Holdings II LLC acquired a new stake in shares of HDFC Bank during the 1st quarter worth about $1,546,956,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in HDFC Bank by 3,715.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after buying an additional 4,089,647 shares during the period. Royal Bank of Canada boosted its stake in HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after buying an additional 3,907,637 shares during the period. CCLA Investment Management increased its position in shares of HDFC Bank by 104.2% during the third quarter. CCLA Investment Management now owns 4,352,450 shares of the bank’s stock valued at $148,952,000 after acquiring an additional 2,221,419 shares during the last quarter. Finally, M&G PLC raised its stake in shares of HDFC Bank by 184.2% in the 2nd quarter. M&G PLC now owns 3,407,929 shares of the bank’s stock valued at $262,411,000 after acquiring an additional 2,208,824 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.1%

NYSE:HDB opened at $36.45 on Friday. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The firm has a market cap of $185.92 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58. The stock has a fifty day moving average price of $36.24 and a 200 day moving average price of $36.55.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%. Equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a research report on Monday, December 22nd. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, HDFC Bank has an average rating of “Moderate Buy”.

HDFC Bank Company 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).