ARGA Investment Management LP Boosts Stock Position in HDFC Bank Limited (NYSE:HDB)

ARGA Investment Management LP lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,553,975 shares of the bank's stock after acquiring an additional 104,162 shares during the period. HDFC Bank makes up approximately 3.5% of ARGA Investment Management LP's investment portfolio, making the stock its 12th largest holding. ARGA Investment Management LP owned 0.06% of HDFC Bank worth $103,246,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Graney & King LLC acquired a new stake in shares of HDFC Bank during the fourth quarter worth about $38,000. Brown Brothers Harriman & Co. lifted its holdings in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after acquiring an additional 240 shares during the period. NBC Securities Inc. purchased a new stake in shares of HDFC Bank in the first quarter valued at approximately $55,000. Pinnacle Bancorp Inc. increased its position in shares of HDFC Bank by 109.7% in the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after buying an additional 443 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of HDFC Bank in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

HDFC Bank Stock Down 1.3%

Shares of NYSE:HDB opened at $75.54 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.07 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $74.40 and a two-hundred day moving average of $67.00. The stock has a market cap of $191.29 billion, a P/E ratio of 22.89, a PEG ratio of 1.85 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $78.14.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $434.68 billion. On average, research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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.

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