Firetrail Investments PTY Ltd. Grows Position in HDFC Bank Limited (NYSE:HDB)

Firetrail Investments PTY Ltd. raised its stake in HDFC Bank Limited (NYSE:HDB) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 147,179 shares of the bank’s stock after acquiring an additional 1,003 shares during the period. HDFC Bank makes up 2.6% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 23rd largest holding. Firetrail Investments PTY Ltd.’s holdings in HDFC Bank were worth $9,198,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of HDFC Bank in the 2nd quarter valued at about $36,000. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank in the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC increased its position in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. LRI Investments LLC bought a new position in shares of HDFC Bank during the 1st quarter valued at approximately $56,000. Finally, GAMMA Investing LLC raised its holdings in HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after buying an additional 324 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

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

HDFC Bank (NYSE:HDB) last released 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 business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HDB shares. StockNews.com upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

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.