HighVista Strategies LLC Has $1.61 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

HighVista Strategies LLC grew its stake in HDFC Bank Limited (NYSE:HDB) by 23.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,041 shares of the bank’s stock after buying an additional 4,800 shares during the quarter. HighVista Strategies LLC’s holdings in HDFC Bank were worth $1,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FIL Ltd lifted its stake in HDFC Bank by 10.8% in the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock valued at $912,313,000 after acquiring an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock worth $741,932,000 after purchasing an additional 263,690 shares during the last quarter. Harding Loevner LP boosted its holdings in 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 purchasing an additional 2,276,203 shares during the last quarter. Sustainable Growth Advisers LP grew its position in 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 purchasing an additional 1,711,784 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in HDFC Bank by 1.6% in the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock valued at $581,679,000 after buying an additional 133,791 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.4 %

Shares of HDB stock opened at $65.73 on Monday. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. 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 firm’s 50-day moving average is $60.79 and its 200-day moving average is $59.34. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share 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 firm had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. Sell-side analysts predict that HDFC Bank Limited will post 2.97 EPS for the current year.

Analysts Set New Price Targets

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

HDFC Bank 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.