CIBC Asset Management Inc Purchases 552,672 Shares of HDFC Bank Limited $HDB

CIBC Asset Management Inc lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 288.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 744,201 shares of the bank’s stock after purchasing an additional 552,672 shares during the period. CIBC Asset Management Inc’s holdings in HDFC Bank were worth $25,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted 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 worth $26,000 after buying an additional 379 shares during the period. Parkside Financial Bank & Trust raised 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 acquiring an additional 322 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings 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 worth $35,000 after purchasing an additional 510 shares during the period. Roxbury Financial LLC grew its stake 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 worth $40,000 after purchasing an additional 768 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its stake in shares of 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 purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $32.02 on Monday. HDFC Bank Limited has a 1 year low of $29.04 and a 1 year high of $39.81. The business’s 50-day moving average is $35.16 and its 200-day moving average is $35.97. The company has a market capitalization of $163.36 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.30 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last issued its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. Analysts anticipate that HDFC Bank Limited will post 3.03 EPS 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).