PGGM Investments Grows Position in HDFC Bank Limited $HDB

PGGM Investments lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 100.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,799,908 shares of the bank’s stock after acquiring an additional 1,899,954 shares during the period. HDFC Bank comprises 2.1% of PGGM Investments’ investment portfolio, making the stock its 16th biggest holding. PGGM Investments’ holdings in HDFC Bank were worth $129,805,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Financial Perspectives Inc boosted its holdings in HDFC Bank by 1.3% during the second quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock worth $826,000 after buying an additional 136 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in HDFC Bank by 4.9% in the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after buying an additional 152 shares in the last quarter. Huntington National Bank raised its position in shares of HDFC Bank by 13.3% in the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock worth $103,000 after acquiring an additional 158 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of HDFC Bank by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after acquiring an additional 194 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of HDFC Bank by 1.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after acquiring an additional 215 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Down 1.3%

Shares of HDFC Bank stock opened at $32.49 on Friday. HDFC Bank Limited has a twelve month low of $29.01 and a twelve month high of $39.81. The firm has a market capitalization of $165.75 billion, a PE ratio of 19.75, a P/E/G ratio of 1.33 and a beta of 0.57. The firm’s 50-day moving average price is $35.63 and its 200 day moving average price is $36.24.

HDFC Bank (NYSE:HDB) last announced 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. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

HDB has been the subject of several recent analyst reports. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

HDFC Bank Company 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).