Schwartz Investment Counsel Inc. Raises Stock Holdings in HDFC Bank Limited $HDB

Schwartz Investment Counsel Inc. grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 100.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 100,100 shares of the bank’s stock after acquiring an additional 50,050 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in HDFC Bank were worth $3,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Freemont Capital Pte Ltd purchased a new position in shares of HDFC Bank during the second quarter valued at approximately $1,073,000. Helios Capital Management PTE. Ltd. raised its holdings in shares of HDFC Bank by 100.0% in the third quarter. Helios Capital Management PTE. Ltd. now owns 337,400 shares of the bank’s stock worth $11,526,000 after buying an additional 168,700 shares during the period. PGGM Investments lifted its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. PGGM Investments now owns 3,799,908 shares of the bank’s stock worth $129,805,000 after acquiring an additional 1,899,954 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in shares of HDFC Bank by 100.4% during the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after acquiring an additional 4,089,267 shares during the last quarter. Finally, S Bank Fund Management Ltd boosted its holdings in HDFC Bank by 100.0% during the 3rd quarter. S Bank Fund Management Ltd now owns 107,850 shares of the bank’s stock valued at $3,684,000 after acquiring an additional 53,925 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.5%

Shares of HDB stock opened at $32.66 on Monday. HDFC Bank Limited has a twelve month low of $29.01 and a twelve month high of $39.81. The stock has a fifty day simple moving average of $35.57 and a two-hundred day simple moving average of $36.17. The stock has a market capitalization of $166.60 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.32 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $4.98 billion. Research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Moderate Buy”.

HDFC Bank 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).