Profund Advisors LLC Increases Stake in HDFC Bank Limited $HDB

Profund Advisors LLC increased its holdings in HDFC Bank Limited (NYSE:HDB) by 105.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,844 shares of the bank’s stock after purchasing an additional 62,916 shares during the quarter. Profund Advisors LLC’s holdings in HDFC Bank were worth $4,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HDB. Robeco Institutional Asset Management B.V. lifted its stake in shares of HDFC Bank by 150.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after acquiring an additional 6,963,646 shares during the last quarter. Schroder Investment Management Group lifted its position in HDFC Bank by 19.0% in the second quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock valued at $813,830,000 after purchasing an additional 1,692,243 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of HDFC Bank by 89.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock valued at $348,741,000 after purchasing an additional 4,810,042 shares during the period. C WorldWide Group Holding A S grew its holdings in shares of HDFC Bank by 133.0% in the third quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock worth $319,834,000 after purchasing an additional 5,345,005 shares during the last quarter. Finally, PineStone Asset Management Inc. grew its holdings in shares of 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. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HDB shares. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, HDFC Bank has an average rating of “Hold”.

HDFC Bank Trading Up 1.3%

NYSE:HDB opened at $34.43 on Monday. The company has a 50-day moving average price of $34.45 and a 200-day moving average price of $35.61. The stock has a market cap of $175.64 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.40 and a beta of 0.57. HDFC Bank Limited has a 12 month low of $29.23 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last announced 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 net margin of 14.92% and a return on equity of 11.49%. The company had revenue of $16.48 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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).