Oppenheimer Asset Management Inc. Has $15.66 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Oppenheimer Asset Management Inc. lifted its stake in HDFC Bank Limited (NYSE:HDB) by 28.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 250,248 shares of the bank’s stock after purchasing an additional 54,994 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in HDFC Bank were worth $15,656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HDB. Capital World Investors boosted its position in shares of HDFC Bank by 208.6% in the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after purchasing an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC purchased a new position in HDFC Bank during the 2nd quarter valued at about $166,709,000. PineStone Asset Management Inc. grew its stake in HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after acquiring an additional 2,391,343 shares in the last quarter. CCLA Investment Management grew its stake in HDFC Bank by 100,691.5% during the 1st quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock valued at $97,534,000 after acquiring an additional 1,746,998 shares in the last quarter. Finally, TPG GP A LLC purchased a new position in HDFC Bank during the 2nd quarter valued at about $95,637,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 1.2 %

Shares of HDFC Bank stock opened at $61.38 on Thursday. The firm has a market cap of $155.43 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The stock has a 50-day simple moving average of $62.82 and a 200-day simple moving average of $60.93.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HDB. StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Company Profile

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.