Factory Mutual Insurance Co. Makes New Investment in HDFC Bank Limited $HDB

Factory Mutual Insurance Co. purchased a new stake in HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 156,328 shares of the bank’s stock, valued at approximately $5,340,000.

Other institutional investors have also recently made changes to their positions in the company. Hudson Edge Investment Partners Inc. increased its position in HDFC Bank by 100.6% in 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 buying an additional 755,200 shares in the last quarter. ABN Amro Investment Solutions grew its stake in HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock valued at $7,141,000 after acquiring an additional 104,525 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of HDFC Bank by 102.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock valued at $80,936,000 after acquiring an additional 1,199,084 shares in the last quarter. Cabot Wealth Management Inc. increased its holdings in shares of HDFC Bank by 97.0% during the third quarter. Cabot Wealth Management Inc. now owns 575,800 shares of the bank’s stock valued at $19,669,000 after acquiring an additional 283,520 shares in the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of HDFC Bank by 77.3% during the third quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank’s stock worth $57,641,000 after purchasing an additional 735,409 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 1.9%

NYSE HDB opened at $32.73 on Friday. The business has a fifty day simple moving average of $34.00 and a 200 day simple moving average of $35.30. HDFC Bank Limited has a 12 month low of $29.23 and a 12 month high of $39.81. The firm has a market capitalization of $166.95 billion, a P/E ratio of 19.66, a PEG ratio of 1.39 and a beta of 0.57.

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

Analyst Ratings Changes

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

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).