Profund Advisors LLC Grows Stock Position in HDFC Bank Limited $HDB

Profund Advisors LLC increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 26.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 59,928 shares of the bank’s stock after buying an additional 12,707 shares during the period. Profund Advisors LLC’s holdings in HDFC Bank were worth $4,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HDB. BNP Paribas Financial Markets boosted its stake in shares of HDFC Bank by 81.0% during the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock valued at $37,765,000 after buying an additional 254,395 shares during the period. Acadian Asset Management LLC bought a new position in HDFC Bank during the first quarter valued at approximately $19,366,000. Immersion Capital LLP bought a new position in shares of HDFC Bank during the 1st quarter valued at $19,753,000. Raiffeisen Bank International AG raised its holdings in HDFC Bank by 21.3% during the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock valued at $12,778,000 after buying an additional 33,983 shares in the last quarter. Finally, Eminence Capital LP lifted its holdings in HDFC Bank by 18.9% in the 1st quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock worth $78,834,000 after purchasing an additional 189,015 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HDB shares. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. One research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

HDFC Bank Trading Up 0.4%

Shares of HDFC Bank stock opened at $35.83 on Monday. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The firm’s 50-day moving average price is $35.45 and its two-hundred day moving average price is $36.71. The stock has a market capitalization of $182.80 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 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 firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.98 billion. As a group, equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

About HDFC Bank

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.