Dalton Investments Inc. Has $3.70 Million Position in HDFC Bank Limited (NYSE:HDB)

Dalton Investments Inc. grew its position in HDFC Bank Limited (NYSE:HDB) by 97.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,500 shares of the bank’s stock after purchasing an additional 28,400 shares during the period. HDFC Bank comprises approximately 2.1% of Dalton Investments Inc.’s holdings, making the stock its 11th biggest holding. Dalton Investments Inc.’s holdings in HDFC Bank were worth $3,699,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in HDB. Royal London Asset Management Ltd. increased its holdings in HDFC Bank by 234.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after purchasing an additional 4,687,487 shares in the last quarter. Capital World Investors increased its stake in shares of HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after buying an additional 2,788,197 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank in the second quarter valued at about $166,709,000. PineStone Asset Management Inc. lifted its position in HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after buying an additional 2,391,343 shares in the last quarter. Finally, Harding Loevner LP grew its holdings in HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after acquiring an additional 2,276,203 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDFC Bank stock opened at $65.73 on Friday. The stock has a market cap of $122.25 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.63 and a beta of 0.92. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The business’s 50-day simple moving average is $60.79 and its 200 day simple moving average is $59.31.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. As a group, research analysts anticipate that HDFC Bank Limited will post 2.97 earnings per share for the current year.

Analysts Set New Price Targets

HDB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

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.