HDFC Bank Limited $HDB Shares Bought by Lancaster Investment Management

Lancaster Investment Management boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 100.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,000 shares of the bank’s stock after purchasing an additional 231,000 shares during the quarter. HDFC Bank accounts for approximately 6.8% of Lancaster Investment Management’s holdings, making the stock its 5th biggest position. Lancaster Investment Management’s holdings in HDFC Bank were worth $15,782,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Hilltop National Bank increased its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Hilltop National Bank now owns 6,082 shares of the bank’s stock worth $208,000 after purchasing an additional 3,041 shares during the period. Assenagon Asset Management S.A. acquired a new stake in HDFC Bank during the third quarter worth about $1,570,000. Union Bancaire Privee UBP SA increased its stake in HDFC Bank by 380.2% during the third quarter. Union Bancaire Privee UBP SA now owns 36,016 shares of the bank’s stock valued at $1,230,000 after acquiring an additional 28,516 shares during the period. Grove Bank & Trust increased its stake in HDFC Bank by 80.3% during the third quarter. Grove Bank & Trust now owns 3,814 shares of the bank’s stock valued at $130,000 after acquiring an additional 1,699 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in HDFC Bank by 99.8% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 21,706 shares of the bank’s stock valued at $741,000 after acquiring an additional 10,840 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a report on Tuesday. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

HDFC Bank Price Performance

Shares of HDB stock opened at $35.19 on Friday. The stock’s fifty day simple moving average is $36.15 and its 200 day simple moving average is $36.63. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The firm has a market cap of $179.50 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.58 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (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 $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

About HDFC Bank

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.