DMC Group LLC Boosts Position in HDFC Bank Limited (NYSE:HDB)

DMC Group LLC lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 69.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,620 shares of the bank’s stock after buying an additional 2,709 shares during the quarter. DMC Group LLC’s holdings in HDFC Bank were worth $414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after acquiring an additional 263,690 shares in the last quarter. Sustainable Growth Advisers LP raised its position in shares of HDFC Bank by 24.1% during the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after purchasing an additional 1,711,784 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of HDFC Bank by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock worth $308,214,000 after purchasing an additional 486,653 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in HDFC Bank by 115.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after buying an additional 2,391,343 shares in the last quarter. Finally, Capital World Investors increased its position in HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after buying an additional 2,788,197 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.0 %

HDB stock opened at $60.87 on Friday. The company has a 50 day moving average price of $61.69 and a two-hundred day moving average price of $60.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $113.21 billion, a P/E ratio of 18.67, a PEG ratio of 1.95 and a beta of 0.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. As a group, sell-side analysts expect that HDFC Bank Limited will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HDB. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th.

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.