Mirae Asset Global Investments Co. Ltd. Grows Stake in HDFC Bank Limited $HDB

Mirae Asset Global Investments Co. Ltd. lifted its stake in HDFC Bank Limited (NYSE:HDB) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,121,783 shares of the bank’s stock after purchasing an additional 230,872 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in HDFC Bank were worth $38,320,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. NewEdge Advisors LLC increased its position in HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after acquiring an additional 922 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after purchasing an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC raised its position in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after purchasing an additional 1,541 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of HDFC Bank by 32.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,350 shares of the bank’s stock worth $869,000 after acquiring an additional 2,780 shares during the last quarter. Finally, Greenleaf Trust bought a new position in HDFC Bank in the 2nd quarter valued at $221,000. 17.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

HDFC Bank Stock Performance

NYSE:HDB opened at $32.31 on Thursday. The firm’s fifty day moving average is $34.89 and its two-hundred day moving average is $35.86. The firm has a market cap of $164.80 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a one year low of $29.23 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. As a group, equities research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).