HDFC Bank Limited $HDB Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. boosted its stake in HDFC Bank Limited (NYSE:HDB) by 709.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 63,143 shares of the bank’s stock after acquiring an additional 55,338 shares during the period. Cibc World Market Inc.’s holdings in HDFC Bank were worth $2,157,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Financial Perspectives Inc raised its stake in shares of HDFC Bank by 1.3% in the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock valued at $826,000 after acquiring an additional 136 shares during the period. Insigneo Advisory Services LLC increased its holdings in HDFC Bank by 4.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after purchasing an additional 152 shares during the last quarter. Huntington National Bank raised its position in HDFC Bank by 13.3% in the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after purchasing an additional 158 shares during the period. Nisa Investment Advisors LLC lifted its stake in HDFC Bank by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after purchasing an additional 194 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in HDFC Bank by 1.5% during the second quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Performance

HDB stock opened at $32.47 on Tuesday. The company’s 50 day moving average price is $34.15 and its 200 day moving average price is $35.38. The firm has a market capitalization of $165.65 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a fifty-two week low of $29.23 and a fifty-two week high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping 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 during 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.

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).