14,000 Shares in HDFC Bank Limited $HDB Acquired by Freemont Capital Pte Ltd

Freemont Capital Pte Ltd purchased a new position in HDFC Bank Limited (NYSE:HDB) in the second quarter, HoldingsChannel reports. The institutional investor purchased 14,000 shares of the bank’s stock, valued at approximately $1,073,000. HDFC Bank makes up approximately 0.0% of Freemont Capital Pte Ltd’s holdings, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. bought a new stake in shares of HDFC Bank in the 1st quarter worth approximately $258,000. Apollon Wealth Management LLC purchased a new stake in shares of HDFC Bank in the first quarter worth $228,000. Larson Financial Group LLC increased its position in shares of HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after acquiring an additional 507 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in shares of HDFC Bank during the 1st quarter valued at about $663,000. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Performance

NYSE:HDB opened at $36.39 on Friday. The firm’s fifty day moving average is $35.56 and its two-hundred day moving average is $36.71. The firm has a market cap of $185.64 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, equities research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on HDB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One research 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’s stock. According to MarketBeat, HDFC Bank 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.