Massachusetts Financial Services Co. MA Has $348.74 Million Position in HDFC Bank Limited $HDB

Massachusetts Financial Services Co. MA raised its position in HDFC Bank Limited (NYSE:HDB) by 89.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,209,034 shares of the bank’s stock after purchasing an additional 4,810,042 shares during the period. Massachusetts Financial Services Co. MA’s holdings in HDFC Bank were worth $348,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in shares of HDFC Bank by 150.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after acquiring an additional 6,963,646 shares during the period. PineStone Asset Management Inc. raised its stake in HDFC Bank by 100.4% in the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after purchasing an additional 4,089,267 shares in the last quarter. Trinity Street Asset Management LLP boosted its holdings in HDFC Bank by 88.0% in the 3rd quarter. Trinity Street Asset Management LLP now owns 6,133,600 shares of the bank’s stock valued at $209,524,000 after purchasing an additional 2,870,400 shares during the period. Northcape Capital Pty Ltd grew its position in shares of HDFC Bank by 86.9% during the 3rd quarter. Northcape Capital Pty Ltd now owns 5,263,443 shares of the bank’s stock worth $179,799,000 after purchasing an additional 2,447,948 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its holdings in shares of HDFC Bank by 120.0% during the third quarter. Hardman Johnston Global Advisors LLC now owns 4,269,682 shares of the bank’s stock worth $145,852,000 after purchasing an additional 2,329,058 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HDB. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Zacks Research raised 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 assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

HDFC Bank Price Performance

NYSE HDB opened at $32.66 on Monday. The business has a fifty day moving average price of $35.57 and a two-hundred day moving average price of $36.17. The stock has a market capitalization of $166.60 billion, a PE ratio of 19.85, a PEG ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a fifty-two week low of $29.01 and a fifty-two week high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly 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. 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. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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).