Jacobson & Schmitt Advisors LLC Increases Stock Position in HDFC Bank Limited $HDB

Jacobson & Schmitt Advisors LLC lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,834 shares of the bank’s stock after acquiring an additional 25,690 shares during the period. HDFC Bank accounts for about 2.6% of Jacobson & Schmitt Advisors LLC’s holdings, making the stock its 14th biggest position. Jacobson & Schmitt Advisors LLC’s holdings in HDFC Bank were worth $14,861,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. New Vernon Capital Holdings II LLC acquired a new stake in shares of HDFC Bank during the first quarter worth about $1,546,956,000. GQG Partners LLC boosted its stake in shares of HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after buying an additional 8,313,645 shares during the period. Royal Bank of Canada boosted its stake in shares of HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after buying an additional 3,907,637 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of HDFC Bank by 2.1% during the first quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank’s stock worth $638,934,000 after buying an additional 202,032 shares during the period. Finally, Temasek Holdings Private Ltd boosted its stake in shares of HDFC Bank by 3.9% during the first quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock worth $591,028,000 after buying an additional 337,874 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

HDFC Bank stock opened at $36.26 on Wednesday. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The business has a fifty day moving average of $35.45 and a two-hundred day moving average of $36.73. The company has a market cap of $184.95 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.98 billion. Sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.