Letko Brosseau & Associates Inc. Boosts Stock Position in HDFC Bank Limited $HDB

Letko Brosseau & Associates Inc. increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,980 shares of the bank’s stock after purchasing an additional 1,650 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in HDFC Bank were worth $4,522,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HDB. Rockefeller Capital Management L.P. raised its holdings in shares of HDFC Bank by 26.8% during the second quarter. Rockefeller Capital Management L.P. now owns 55,753 shares of the bank’s stock worth $4,275,000 after purchasing an additional 11,767 shares during the last quarter. Freemont Capital Pte Ltd purchased a new position in shares of HDFC Bank during the 2nd quarter valued at about $1,073,000. Avantax Advisory Services Inc. lifted its holdings in shares of HDFC Bank by 0.7% in the 2nd quarter. Avantax Advisory Services Inc. now owns 62,729 shares of the bank’s stock valued at $4,809,000 after buying an additional 444 shares during the period. MJP Associates Inc. ADV boosted its stake in shares of HDFC Bank by 11.6% in the second quarter. MJP Associates Inc. ADV now owns 4,810 shares of the bank’s stock worth $369,000 after buying an additional 500 shares during the last quarter. Finally, Creative Planning grew its holdings in HDFC Bank by 3.7% during the second quarter. Creative Planning now owns 66,404 shares of the bank’s stock worth $5,091,000 after acquiring an additional 2,395 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $36.39 on Friday. The stock has a market capitalization of $185.64 billion, a P/E ratio of 22.12, a PEG ratio of 1.92 and a beta of 0.69. The business has a 50 day simple moving average of $35.56 and a two-hundred day simple moving average of $36.71. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its earnings results 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 net margin of 14.94% and a return on equity of 11.49%. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

HDFC Bank Company 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.