Seven Eight Capital LP Invests $431,000 in HDFC Bank Limited (NYSE:HDB)

Seven Eight Capital LP acquired a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,703 shares of the bank’s stock, valued at approximately $431,000.

A number of other hedge funds have also recently made changes to their positions in HDB. Royal London Asset Management Ltd. raised its holdings in shares of HDFC Bank by 234.1% in the fourth 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 during the last quarter. Capital World Investors increased its stake in HDFC Bank by 208.6% in the 1st 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 during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $166,709,000. PineStone Asset Management Inc. lifted its position in shares of 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 boosted its stake in shares of HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after buying an additional 2,276,203 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 1.4 %

HDB opened at $65.73 on Monday. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The company’s 50-day moving average price is $60.79 and its two-hundred day moving average price is $59.34. The stock has a market cap of $122.25 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.63 and a beta of 0.92. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

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

Wall Street Analysts Forecast Growth

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

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.