Baillie Gifford & Co. Buys 3,353,109 Shares of HDFC Bank Limited $HDB

Baillie Gifford & Co. lifted its position in HDFC Bank Limited (NYSE:HDB) by 97.1% in the third quarter, Holdings Channel reports. The firm owned 6,806,818 shares of the bank’s stock after buying an additional 3,353,109 shares during the period. Baillie Gifford & Co.’s holdings in HDFC Bank were worth $232,521,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division raised its position in HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after purchasing an additional 379 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of HDFC Bank by 54.5% during the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after buying an additional 322 shares during the period. J.Safra Asset Management Corp increased its stake in shares of HDFC Bank by 100.0% during the third quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after buying an additional 510 shares during the period. Roxbury Financial LLC raised its holdings in shares of HDFC Bank by 194.9% in the third quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock valued at $40,000 after acquiring an additional 768 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in HDFC Bank by 112.0% in the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after acquiring an additional 290 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $32.02 on Friday. HDFC Bank Limited has a fifty-two week low of $29.04 and a fifty-two week high of $39.81. The company has a market cap of $163.36 billion, a PE ratio of 19.23, a P/E/G ratio of 1.29 and a beta of 0.57. The business has a 50-day simple moving average of $35.16 and a two-hundred day simple moving average of $36.00.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $16.48 billion during the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HDB shares. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, HDFC Bank has an average rating of “Reduce”.

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).