ARGA Investment Management LP Has $36 Million Holdings in HDFC Bank Limited $HDB

ARGA Investment Management LP grew its holdings in HDFC Bank Limited (NYSE:HDB) by 3.0% in the third quarter, Holdings Channel.com reports. The firm owned 1,053,708 shares of the bank’s stock after purchasing an additional 30,507 shares during the period. HDFC Bank comprises approximately 1.0% of ARGA Investment Management LP’s investment portfolio, making the stock its 25th largest position. ARGA Investment Management LP’s holdings in HDFC Bank were worth $35,995,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hudson Edge Investment Partners Inc. lifted its position in HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock valued at $51,452,000 after purchasing an additional 755,200 shares during the period. Freemont Capital Pte Ltd bought a new stake in shares of HDFC Bank during the second quarter worth approximately $1,073,000. Helios Capital Management PTE. Ltd. lifted its holdings in HDFC Bank by 100.0% in the third quarter. Helios Capital Management PTE. Ltd. now owns 337,400 shares of the bank’s stock valued at $11,526,000 after buying an additional 168,700 shares during the period. PGGM Investments boosted its position in shares of HDFC Bank by 100.0% in the 3rd quarter. PGGM Investments now owns 3,799,908 shares of the bank’s stock worth $129,805,000 after purchasing an additional 1,899,954 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in HDFC Bank by 100.4% during the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after buying an additional 4,089,267 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of research analyst reports. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, HDFC Bank has a consensus rating of “Reduce”.

HDFC Bank Stock Down 0.2%

Shares of HDB stock opened at $32.02 on Friday. HDFC Bank Limited has a 12-month low of $29.04 and a 12-month high of $39.81. The company has a market capitalization of $163.36 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.57. The firm has a 50 day moving average price of $35.16 and a two-hundred day moving average price of $36.00.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%.The business had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

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).