HDFC Bank Limited $HDB is Milestone Resources Group Ltd’s 8th Largest Position

Milestone Resources Group Ltd boosted its position in HDFC Bank Limited (NYSE:HDB) by 100.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,369,248 shares of the bank’s stock after acquiring an additional 684,624 shares during the period. HDFC Bank accounts for approximately 2.3% of Milestone Resources Group Ltd’s portfolio, making the stock its 8th largest holding. Milestone Resources Group Ltd’s holdings in HDFC Bank were worth $46,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in shares of HDFC Bank by 150.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after purchasing an additional 6,963,646 shares during the period. Schroder Investment Management Group raised its holdings in HDFC Bank by 19.0% during the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock valued at $813,830,000 after acquiring an additional 1,692,243 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of HDFC Bank by 89.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after acquiring an additional 4,810,042 shares in the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of HDFC Bank by 100.4% in the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after acquiring an additional 4,089,267 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of HDFC Bank by 97.1% in the third quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after acquiring an additional 3,353,109 shares during the period. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HDB shares. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, HDFC Bank presently has an average rating of “Hold”.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $32.40 on Friday. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81. The firm has a market cap of $165.30 billion, a PE ratio of 19.46, a PEG ratio of 1.32 and a beta of 0.57. The company has a 50 day simple moving average of $34.71 and a two-hundred day simple moving average of $35.80.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. As a group, research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank 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).