KLP Kapitalforvaltning AS Buys 273,600 Shares of HDFC Bank Limited $HDB

KLP Kapitalforvaltning AS lifted its stake in HDFC Bank Limited (NYSE:HDB) by 104.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 536,100 shares of the bank’s stock after buying an additional 273,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in HDFC Bank were worth $18,313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its holdings in shares of HDFC Bank by 150.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after purchasing an additional 6,963,646 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of HDFC Bank by 3,715.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after buying an additional 4,089,647 shares in the last quarter. PineStone Asset Management Inc. boosted its stake in HDFC Bank by 100.4% during the third quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after buying an additional 4,089,267 shares during the last quarter. Northcape Capital Pty Ltd boosted its stake in HDFC Bank by 86.9% during the third quarter. Northcape Capital Pty Ltd now owns 5,263,443 shares of the bank’s stock valued at $179,799,000 after buying an additional 2,447,948 shares during the last quarter. Finally, CCLA Investment Management increased its stake in HDFC Bank by 104.2% in the 3rd quarter. CCLA Investment Management now owns 4,352,450 shares of the bank’s stock worth $148,952,000 after acquiring an additional 2,221,419 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.5%

Shares of HDB opened at $33.36 on Friday. The company’s fifty day simple moving average is $35.94 and its 200-day simple moving average is $36.42. The company has a market cap of $170.20 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.49 and a beta of 0.57. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HDB shares. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of HDFC Bank in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

HDFC Bank 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).