Ashoka WhiteOak Capital Pte Ltd Buys 49,520 Shares of HDFC Bank Limited $HDB

Key Points

• Ashoka WhiteOak Capital increased its HDFC Bank stake by 8% in the third quarter, purchasing 49,520 shares to hold 672,400 shares valued at approximately $15.0 million.
• Institutional investors own 17.61% of HDFC Bank, while several other funds also recently initiated or expanded positions.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $26.10 price target. HDFC Bank recently beat quarterly EPS estimates, reporting $0.42 versus the $0.40 consensus.

Ashoka WhiteOak Capital Pte Ltd increased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672,400 shares of the bank's stock after purchasing an additional 49,520 shares during the period. HDFC Bank accounts for about 4.4% of Ashoka WhiteOak Capital Pte Ltd's investment portfolio, making the stock its 6th largest holding. Ashoka WhiteOak Capital Pte Ltd's holdings in HDFC Bank were worth $15,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HDB. Axiom Investment Management LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth about $32,000. Integrated Wealth Concepts LLC bought a new stake in shares of HDFC Bank in the 2nd quarter valued at approximately $66,000. Pinnacle Wealth Planning Services Inc. boosted its stake in HDFC Bank by 33.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,807 shares of the bank's stock valued at $85,000 after buying an additional 952 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in HDFC Bank by 215.5% during the second quarter. TD Waterhouse Canada Inc. now owns 3,868 shares of the bank's stock worth $99,000 after acquiring an additional 2,642 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of HDFC Bank during the first quarter valued at $102,000. Institutional investors own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

HDB has been the topic of several analyst reports. HSBC lowered shares of HDFC Bank from a "buy" rating to a "hold" rating and lowered their target price for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Zacks Research raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. The Goldman Sachs Group started coverage on shares of HDFC Bank in a research note on Friday, August 21st. They set a "buy" rating on the stock. Finally, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, October 24th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, HDFC Bank has a consensus rating of "Hold" and a consensus price target of $26.10.

HDFC Bank Trading Up 1.2%

Shares of NYSE HDB opened at $21.81 on Friday. The firm has a market cap of $111.89 billion, a PE ratio of 12.31, a PEG ratio of 1.19 and a beta of 0.61. HDFC Bank Limited has a 1-year low of $21.36 and a 1-year high of $37.35. The company has a fifty day moving average price of $22.72 and a 200 day moving average price of $25.94.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analysts' expectations of $4.95 billion. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. Equities research analysts forecast that HDFC Bank Limited will post 1.65 EPS for the current year.

HDFC Bank Profile

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.

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