DAVENPORT & Co LLC Increases Stock Position in HDFC Bank Limited $HDB

DAVENPORT & Co LLC grew its holdings in HDFC Bank Limited (NYSE:HDB) by 98.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,230 shares of the bank’s stock after purchasing an additional 54,169 shares during the quarter. DAVENPORT & Co LLC’s holdings in HDFC Bank were worth $3,731,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in HDFC Bank by 67.4% during the 1st quarter. Vanguard Group Inc. now owns 272,824 shares of the bank’s stock valued at $18,126,000 after buying an additional 109,810 shares during the last quarter. Ieq Capital LLC lifted its position in shares of HDFC Bank by 7.1% in the first quarter. Ieq Capital LLC now owns 4,456 shares of the bank’s stock valued at $296,000 after acquiring an additional 294 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of HDFC Bank by 81.0% during the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock valued at $37,765,000 after acquiring an additional 254,395 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its position in HDFC Bank by 24.3% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 39,824 shares of the bank’s stock worth $2,646,000 after purchasing an additional 7,787 shares in the last quarter. Finally, State of Wyoming increased its position in HDFC Bank by 7.1% during the 1st quarter. State of Wyoming now owns 10,624 shares of the bank’s stock worth $706,000 after purchasing an additional 700 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.1%

Shares of HDB opened at $36.45 on Friday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The company’s fifty day moving average is $36.24 and its two-hundred day moving average is $36.56. The firm has a market cap of $185.92 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.98 billion. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

HDB has been the topic of a number of recent research reports. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday. Finally, Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

HDFC Bank 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).