ARGA Investment Management LP Grows Stake in HDFC Bank Limited (NYSE:HDB)

ARGA Investment Management LP lifted its stake in HDFC Bank Limited (NYSE:HDB) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,449,813 shares of the bank’s stock after purchasing an additional 44,794 shares during the quarter. HDFC Bank accounts for approximately 3.0% of ARGA Investment Management LP’s holdings, making the stock its 14th biggest position. ARGA Investment Management LP’s holdings in HDFC Bank were worth $92,585,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HDB. Glenmede Trust Co. NA lifted its position in HDFC Bank by 3.6% during the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock valued at $301,000 after purchasing an additional 167 shares during the period. Commerce Bank raised its stake in HDFC Bank by 7.0% during the 3rd quarter. Commerce Bank now owns 3,427 shares of the bank’s stock valued at $214,000 after buying an additional 225 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its stake in HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after buying an additional 254 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 4.2% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after buying an additional 257 shares during the period. Finally, Baron Wealth Management LLC boosted its stake in shares of HDFC Bank by 3.7% in the 4th quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock worth $470,000 after buying an additional 263 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on HDB shares. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Trading Up 2.1 %

NYSE:HDB opened at $61.13 on Wednesday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $68.50. The business has a fifty day moving average price of $63.21 and a 200-day moving average price of $62.37. The firm has a market capitalization of $154.79 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Sell-side analysts forecast that HDFC Bank Limited will post 3.09 EPS for the current year.

HDFC Bank 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.