Genesis Investment Management LLP Boosts Stake in HDFC Bank Limited (NYSE:HDB)

Genesis Investment Management LLP lifted its position in HDFC Bank Limited (NYSE:HDB) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,163 shares of the bank’s stock after buying an additional 456 shares during the quarter. HDFC Bank makes up 1.5% of Genesis Investment Management LLP’s investment portfolio, making the stock its 14th largest holding. Genesis Investment Management LLP’s holdings in HDFC Bank were worth $7,830,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HDB. FIL Ltd boosted its stake in shares of HDFC Bank by 10.8% in the fourth quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock valued at $912,313,000 after purchasing an additional 1,326,574 shares during the period. Baillie Gifford & Co. grew its stake in shares of HDFC Bank by 2.3% in the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock worth $741,932,000 after acquiring an additional 263,690 shares in the last quarter. Harding Loevner LP increased its position in shares of HDFC Bank by 31.7% during the fourth 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 period. Sustainable Growth Advisers LP raised its stake in shares of HDFC Bank by 24.1% in the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after acquiring an additional 1,711,784 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in HDFC Bank by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock valued at $308,214,000 after purchasing an additional 486,653 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Stock Down 1.0 %

Shares of HDFC Bank stock traded down $0.59 during trading on Wednesday, hitting $59.79. 384,806 shares of the stock were exchanged, compared to its average volume of 3,110,477. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50-day moving average price is $61.46 and its 200 day moving average price is $59.95. The stock has a market cap of $111.20 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.76 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.

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

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.