HDFC Bank Limited (NYSE:HDB) Shares Bought by MayTech Global Investments LLC

MayTech Global Investments LLC grew its position in HDFC Bank Limited (NYSE:HDB) by 21.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,311 shares of the bank’s stock after purchasing an additional 28,579 shares during the period. HDFC Bank makes up approximately 1.4% of MayTech Global Investments LLC’s holdings, making the stock its 21st largest holding. MayTech Global Investments LLC’s holdings in HDFC Bank were worth $10,279,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. lifted its position in HDFC Bank by 21.1% during the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after buying an additional 199,582 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after purchasing an additional 28,500 shares during the period. Manning & Napier Advisors LLC acquired a new stake in HDFC Bank in the 2nd quarter valued at $166,709,000. US Bancorp DE raised its position in HDFC Bank by 38.1% in the third quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock valued at $8,750,000 after purchasing an additional 38,571 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of HDFC Bank by 56.3% during the second quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after purchasing an additional 50,301 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 1.3 %

HDB opened at $67.50 on Thursday. The firm has a market capitalization of $170.93 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.78 and a beta of 0.91. The firm’s 50 day moving average is $63.26 and its 200-day moving average is $61.41. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.76.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. Analysts expect that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday.

HDFC Bank Company 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.