New York State Common Retirement Fund Boosts Stake in HDFC Bank Limited $HDB

New York State Common Retirement Fund grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 38.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 459,848 shares of the bank’s stock after buying an additional 127,617 shares during the quarter. New York State Common Retirement Fund’s holdings in HDFC Bank were worth $15,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in HDFC Bank by 150.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after purchasing an additional 6,963,646 shares in the last quarter. Schroder Investment Management Group grew its holdings in HDFC Bank by 19.0% in the second quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after purchasing an additional 1,692,243 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in HDFC Bank by 89.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock valued at $348,741,000 after buying an additional 4,810,042 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in shares of HDFC Bank by 100.4% during the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after acquiring an additional 4,089,267 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of HDFC Bank by 97.1% in the third quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after buying an additional 3,353,109 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.5%

NYSE HDB opened at $32.40 on Monday. The firm has a market cap of $165.30 billion, a PE ratio of 19.46, a P/E/G ratio of 1.32 and a beta of 0.57. The business’s fifty day simple moving average is $34.71 and its 200-day simple moving average is $35.77. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, beating 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 net margin of 14.92% and a return on equity of 11.49%. Research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HDB shares. 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 raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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).