GAM Holding AG Increases Position in HDFC Bank Limited (NYSE:HDB)

GAM Holding AG increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 84.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the bank’s stock after buying an additional 32,000 shares during the quarter. GAM Holding AG’s holdings in HDFC Bank were worth $4,379,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC boosted its holdings in HDFC Bank by 6.3% in the first quarter. Park Avenue Securities LLC now owns 13,276 shares of the bank’s stock valued at $743,000 after purchasing an additional 786 shares during the last quarter. Janiczek Wealth Management LLC purchased a new stake in HDFC Bank in the first quarter valued at $35,000. Artemis Investment Management LLP raised its position in shares of HDFC Bank by 7.4% in the first quarter. Artemis Investment Management LLP now owns 11,829 shares of the bank’s stock worth $662,000 after acquiring an additional 815 shares during the period. Capital Insight Partners LLC raised its position in shares of HDFC Bank by 10.8% in the first quarter. Capital Insight Partners LLC now owns 49,847 shares of the bank’s stock worth $2,790,000 after acquiring an additional 4,847 shares during the period. Finally, Harbour Capital Advisors LLC raised its position in shares of HDFC Bank by 25.3% in the first quarter. Harbour Capital Advisors LLC now owns 8,944 shares of the bank’s stock worth $509,000 after acquiring an additional 1,805 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th.

HDFC Bank Stock Down 0.6 %

HDB opened at $63.14 on Wednesday. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average price of $61.83 and a 200 day moving average price of $60.31. The company has a market cap of $117.43 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. The company had revenue of $14.03 billion during 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%. Sell-side analysts expect that HDFC Bank Limited will post 2.96 earnings per share for the current fiscal year.

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.