OVERSEA CHINESE BANKING Corp Ltd Grows Position in HDFC Bank Limited $HDB

OVERSEA CHINESE BANKING Corp Ltd raised its position in HDFC Bank Limited (NYSE:HDB) by 27.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,732 shares of the bank’s stock after acquiring an additional 39,074 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in HDFC Bank were worth $6,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HDB. Central Pacific Bank Trust Division lifted its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after purchasing an additional 379 shares during the last quarter. Roxbury Financial LLC lifted its holdings in HDFC Bank by 194.9% during the 3rd quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after buying an additional 768 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in HDFC Bank by 112.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after buying an additional 290 shares during the last quarter. Park Place Capital Corp boosted its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Park Place Capital Corp now owns 1,426 shares of the bank’s stock worth $49,000 after acquiring an additional 713 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in shares of HDFC Bank by 136.4% in the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HDB shares. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Down 1.0%

Shares of HDB stock opened at $32.88 on Thursday. The stock’s 50-day moving average price is $35.70 and its 200 day moving average price is $36.27. The stock has a market capitalization of $167.71 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. HDFC Bank Limited has a 52-week low of $29.01 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB) last released its 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. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $4.98 billion. Analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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).