TT International Asset Management LTD Purchases 3,805,941 Shares of HDFC Bank Limited $HDB

TT International Asset Management LTD purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 3rd quarter, HoldingsChannel reports. The fund purchased 3,805,941 shares of the bank’s stock, valued at approximately $85,025,000. HDFC Bank accounts for 9.5% of TT International Asset Management LTD’s investment portfolio, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of HDB. Royal Bank of Canada lifted its holdings in shares of HDFC Bank by 6.3% in the first quarter. Royal Bank of Canada now owns 42,418,483 shares of the bank’s stock valued at $1,055,372,000 after buying an additional 2,520,716 shares during the period. Principal Financial Group Inc. grew its holdings in HDFC Bank by 16,808.5% during the first quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank’s stock worth $447,289,000 after acquiring an additional 17,871,520 shares during the period. Robeco Institutional Asset Management B.V. raised its position in HDFC Bank by 13.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 16,611,473 shares of the bank’s stock worth $371,100,000 after acquiring an additional 1,918,221 shares in the last quarter. Temasek Holdings Private Ltd raised its position in HDFC Bank by 15.5% in the first quarter. Temasek Holdings Private Ltd now owns 12,559,656 shares of the bank’s stock worth $312,484,000 after acquiring an additional 1,686,276 shares in the last quarter. Finally, Bank of America Corp DE raised its position in HDFC Bank by 40.7% in the first quarter. Bank of America Corp DE now owns 10,549,235 shares of the bank’s stock worth $262,465,000 after acquiring an additional 3,051,055 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.4%

HDB opened at $23.02 on Wednesday. The stock has a fifty day moving average of $22.67 and a 200-day moving average of $25.78. The firm has a market capitalization of $118.14 billion, a P/E ratio of 13.16, a PEG ratio of 1.25 and a beta of 0.64. HDFC Bank Limited has a 12-month low of $21.36 and a 12-month high of $37.35.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $4.95 billion. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. On average, analysts expect that HDFC Bank Limited will post 1.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on HDB. HSBC downgraded shares of HDFC Bank from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Finally, The Goldman Sachs Group started coverage on shares of HDFC Bank in a report on Friday, August 21st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.10.

HDFC Bank Profile

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.