HDFC Bank Limited $HDB Position Lifted by Ashoka WhiteOak Capital Pte Ltd

Ashoka WhiteOak Capital Pte Ltd lifted its stake in HDFC Bank Limited (NYSE:HDB) by 44.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 521,000 shares of the bank’s stock after acquiring an additional 160,500 shares during the period. HDFC Bank makes up 9.9% of Ashoka WhiteOak Capital Pte Ltd’s portfolio, making the stock its 2nd largest holding. Ashoka WhiteOak Capital Pte Ltd’s holdings in HDFC Bank were worth $17,797,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. New Vernon Capital Holdings II LLC bought a new stake in HDFC Bank during the first quarter valued at about $1,546,956,000. Royal Bank of Canada lifted its position in shares of HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after buying an additional 3,907,637 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of HDFC Bank by 19.0% during the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock valued at $813,830,000 after buying an additional 1,692,243 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in shares of HDFC Bank by 3.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock valued at $591,028,000 after acquiring an additional 337,874 shares during the period. Finally, Franklin Resources Inc. increased its holdings in HDFC Bank by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 6,737,503 shares of the bank’s stock worth $516,564,000 after acquiring an additional 21,706 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HDB. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Up 0.1%

Shares of NYSE:HDB opened at $36.45 on Friday. The firm has a fifty day simple moving average of $36.24 and a two-hundred day simple moving average of $36.55. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81. The stock has a market capitalization of $185.92 billion, a P/E ratio of 22.16, a PEG ratio of 1.64 and a beta of 0.58.

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

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).