Assenagon Asset Management S.A. Invests $1.57 Million in HDFC Bank Limited $HDB

Assenagon Asset Management S.A. bought a new stake in HDFC Bank Limited (NYSE:HDB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,950 shares of the bank’s stock, valued at approximately $1,570,000.

Other institutional investors have also bought and sold shares of the company. Union Bancaire Privee UBP SA raised its position in HDFC Bank by 380.2% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 36,016 shares of the bank’s stock valued at $1,230,000 after buying an additional 28,516 shares during the last quarter. Grove Bank & Trust boosted its holdings in HDFC Bank by 80.3% during the 3rd quarter. Grove Bank & Trust now owns 3,814 shares of the bank’s stock worth $130,000 after acquiring an additional 1,699 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of HDFC Bank by 99.8% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 21,706 shares of the bank’s stock worth $741,000 after acquiring an additional 10,840 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of HDFC Bank by 100.3% in the third quarter. GAMMA Investing LLC now owns 10,684 shares of the bank’s stock valued at $365,000 after purchasing an additional 5,349 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $36.27 on Wednesday. The business’s fifty day moving average is $36.21 and its 200 day moving average is $36.57. The firm has a market cap of $185.01 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.63 and a beta of 0.58. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. Equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HDB. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, HDFC Bank has a consensus rating of “Moderate Buy”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).