Milestone Resources Group Ltd Acquires Shares of 684,624 HDFC Bank Limited $HDB

Milestone Resources Group Ltd bought a new stake in HDFC Bank Limited (NYSE:HDB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 684,624 shares of the bank’s stock, valued at approximately $52,490,000. HDFC Bank accounts for approximately 2.7% of Milestone Resources Group Ltd’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds have also recently modified their holdings of the stock. Financial Perspectives Inc raised its position in HDFC Bank by 1.3% during the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock worth $826,000 after buying an additional 136 shares during the last quarter. Huntington National Bank increased its stake in shares of HDFC Bank by 13.3% during the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock worth $103,000 after acquiring an additional 158 shares during the period. Nisa Investment Advisors LLC raised its holdings in HDFC Bank by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after purchasing an additional 194 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in HDFC Bank by 1.5% in the second quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock valued at $1,152,000 after purchasing an additional 215 shares during the period. Finally, Naples Global Advisors LLC lifted its position in HDFC Bank by 0.9% in the second quarter. Naples Global Advisors LLC now owns 29,154 shares of the bank’s stock valued at $2,235,000 after purchasing an additional 265 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

HDB stock opened at $36.73 on Wednesday. The company has a 50 day moving average price of $35.50 and a two-hundred day moving average price of $36.71. The stock has a market capitalization of $187.36 billion, a P/E ratio of 22.33, a PEG ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.08. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.98 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%. Research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on HDB shares. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, HDFC Bank 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.