Dundas Partners LLP Buys 49,849 Shares of HDFC Bank Limited $HDB

Dundas Partners LLP boosted its stake in HDFC Bank Limited (NYSE:HDB) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,405 shares of the bank’s stock after acquiring an additional 49,849 shares during the period. HDFC Bank accounts for 2.4% of Dundas Partners LLP’s investment portfolio, making the stock its 23rd largest holding. Dundas Partners LLP’s holdings in HDFC Bank were worth $33,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Journey Strategic Wealth LLC bought a new stake in shares of HDFC Bank in the 2nd quarter valued at $229,000. Franklin Resources Inc. lifted its holdings in HDFC Bank by 0.3% in the second quarter. Franklin Resources Inc. now owns 6,737,503 shares of the bank’s stock valued at $516,564,000 after buying an additional 21,706 shares during the period. MAI Capital Management boosted its position in HDFC Bank by 776.2% during the second quarter. MAI Capital Management now owns 4,276 shares of the bank’s stock valued at $328,000 after acquiring an additional 3,788 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in HDFC Bank by 11.3% during the 2nd quarter. Personal CFO Solutions LLC now owns 3,843 shares of the bank’s stock worth $295,000 after acquiring an additional 390 shares during the period. Finally, 17 Capital Partners LLC bought a new position in shares of HDFC Bank in the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.5%

NYSE HDB opened at $36.68 on Friday. The company has a market cap of $187.12 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81. The business has a 50 day moving average price of $35.72 and a 200-day moving average price of $36.72.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. The company 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%. On average, equities research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Zacks Research raised 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 issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, HDFC Bank presently has a consensus rating of “Moderate Buy”.

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.