Westpac Banking Corp Makes New $268,000 Investment in HDFC Bank Limited $HDB

Westpac Banking Corp bought a new stake in HDFC Bank Limited (NYSE:HDB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,495 shares of the bank’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also modified their holdings of HDB. Central Pacific Bank Trust Division acquired a new stake in HDFC Bank in the 2nd quarter worth about $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank during the second quarter worth approximately $30,000. Larson Financial Group LLC raised its position in shares of HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in shares of HDFC Bank by 112.0% in the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after buying an additional 290 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of 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 buying an additional 507 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HDB has been the topic of a number of recent research reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

HDFC Bank Stock Up 1.0%

NYSE:HDB opened at $36.80 on Tuesday. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The stock’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $36.72. The firm has a market capitalization of $187.75 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69.

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

HDFC Bank 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.