HDFC Bank Limited $HDB Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 81.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,843 shares of the bank’s stock after buying an additional 38,155 shares during the quarter. Federated Hermes Inc.’s holdings in HDFC Bank were worth $2,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Financial Perspectives Inc boosted its stake in HDFC Bank by 1.3% in the second quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock valued at $826,000 after acquiring an additional 136 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of HDFC Bank by 4.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after purchasing an additional 152 shares during the last quarter. Huntington National Bank lifted its holdings in shares of HDFC Bank by 13.3% in the 2nd quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after purchasing an additional 158 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of HDFC Bank by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock valued at $1,127,000 after purchasing an additional 194 shares during the period. Finally, Rehmann Capital Advisory Group grew its stake in HDFC Bank by 1.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after buying an additional 215 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HDB has been the subject of several research analyst reports. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

HDFC Bank Stock Performance

Shares of HDB opened at $33.55 on Wednesday. The stock has a market capitalization of $171.13 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.37 and a beta of 0.57. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81. The company’s fifty day moving average is $34.61 and its two-hundred day moving average is $35.71.

HDFC Bank (NYSE:HDB) last issued its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $16.48 billion for the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. Sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Company Profile

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).