Pitcairn Co. Grows Stock Position in HDFC Bank Limited (NYSE:HDB)

Pitcairn Co. boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 95.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,489 shares of the bank’s stock after buying an additional 10,979 shares during the quarter. Pitcairn Co.’s holdings in HDFC Bank were worth $1,407,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after buying an additional 28,500 shares during the period. Manning & Napier Advisors LLC purchased a new stake in HDFC Bank during the 2nd quarter valued at $166,709,000. US Bancorp DE raised its holdings in HDFC Bank by 38.1% during the 3rd quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock valued at $8,750,000 after buying an additional 38,571 shares during the period. Deprince Race & Zollo Inc. raised its holdings in HDFC Bank by 56.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock valued at $8,981,000 after buying an additional 50,301 shares during the period. Finally, Comgest Global Investors S.A.S. raised its holdings in HDFC Bank by 202.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 432,835 shares of the bank’s stock valued at $27,078,000 after buying an additional 289,781 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $64.50 on Friday. The stock’s fifty day moving average is $63.03 and its two-hundred day moving average is $61.17. The company has a market capitalization of $163.33 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. The company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, analysts expect that HDFC Bank Limited will post 3.15 earnings per share 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.