HDFC Bank Limited (NYSE:HDB) Shares Purchased by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285,725 shares of the bank’s stock after acquiring an additional 616 shares during the quarter. HDFC Bank accounts for 2.2% of Cabot Wealth Management Inc.’s holdings, making the stock its 11th biggest position. Cabot Wealth Management Inc.’s holdings in HDFC Bank were worth $17,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Baillie Gifford & Co. grew its position in HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after buying an additional 263,690 shares during the period. Sustainable Growth Advisers LP grew its position in HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after buying an additional 1,711,784 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in HDFC Bank by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock valued at $308,214,000 after purchasing an additional 486,653 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after purchasing an additional 2,391,343 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in HDFC Bank by 69.9% during the fourth quarter. Wellington Management Group LLP now owns 4,174,807 shares of the bank’s stock valued at $280,171,000 after purchasing an additional 1,717,596 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE:HDB traded down $0.41 during midday trading on Tuesday, hitting $61.39. The company’s stock had a trading volume of 1,309,007 shares, compared to its average volume of 3,088,104. The business’s 50 day simple moving average is $61.55 and its 200 day simple moving average is $60.11. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $114.18 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.27. The firm had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, analysts forecast that HDFC Bank Limited will post 2.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HDB shares. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday.

About HDFC Bank

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.