UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 3,262,442 Shares of HDFC Bank Limited (NYSE:HDB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 2,092.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,418,328 shares of the bank’s stock after purchasing an additional 3,262,442 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of HDFC Bank worth $213,851,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of HDFC Bank in the second quarter valued at $36,000. Northwest Investment Counselors LLC bought a new position in shares of HDFC Bank in the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC increased its stake in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after purchasing an additional 324 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HDFC Bank in the 3rd quarter valued at about $65,000. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday.

HDFC Bank Trading Down 1.1 %

Shares of HDFC Bank stock opened at $66.76 on Friday. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.76. The company has a market capitalization of $169.06 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.79 and a beta of 0.91. The business has a fifty day simple moving average of $63.34 and a two-hundred day simple moving average of $61.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. Research analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current year.

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.