Signaturefd LLC Buys 22,079 Shares of HDFC Bank Limited $HDB

Signaturefd LLC boosted its position in HDFC Bank Limited (NYSE:HDB) by 97.3% in the third quarter, HoldingsChannel.com reports. The firm owned 44,766 shares of the bank’s stock after acquiring an additional 22,079 shares during the period. Signaturefd LLC’s holdings in HDFC Bank were worth $1,529,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Schroder Investment Management Group raised its stake 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 worth $813,830,000 after acquiring an additional 1,692,243 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in HDFC Bank by 3.9% in the first 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 in the last quarter. PineStone Asset Management Inc. grew its holdings in HDFC Bank by 100.4% in the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after purchasing an additional 4,089,267 shares during the last quarter. Franklin Resources Inc. increased its position in shares of HDFC Bank by 0.3% during the second quarter. Franklin Resources Inc. now owns 6,737,503 shares of the bank’s stock worth $516,564,000 after purchasing an additional 21,706 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of HDFC Bank by 2.9% during the 2nd quarter. Invesco Ltd. now owns 6,222,209 shares of the bank’s stock valued at $477,057,000 after purchasing an additional 173,249 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Performance

Shares of HDB opened at $36.46 on Monday. The stock has a 50-day moving average of $36.21 and a two-hundred day moving average of $36.51. The stock has a market cap of $185.99 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.64 and a beta of 0.57. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) 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 firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on HDB. Weiss Ratings restated a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday, December 29th. Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy”.

About HDFC Bank

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).