Matthews International Capital Management LLC increased its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 89.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 261,894 shares of the bank's stock after purchasing an additional 123,322 shares during the quarter. HDFC Bank makes up 3.6% of Matthews International Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Matthews International Capital Management LLC's holdings in HDFC Bank were worth $17,400,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new position in HDFC Bank in the 4th quarter worth approximately $29,000. Graney & King LLC bought a new position in HDFC Bank in the 4th quarter worth approximately $38,000. Brown Brothers Harriman & Co. increased its position in HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after buying an additional 240 shares during the period. NBC Securities Inc. bought a new position in HDFC Bank in the 1st quarter worth approximately $55,000. Finally, Atlas Capital Advisors Inc. bought a new position in HDFC Bank in the 4th quarter worth approximately $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.
Read Our Latest Report on HDB
HDFC Bank Stock Performance
Shares of HDB traded up $0.28 on Friday, reaching $74.68. 2,425,353 shares of the stock traded hands, compared to its average volume of 2,790,251. The firm has a market cap of $189.12 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.07 and a quick ratio of 0.09. HDFC Bank Limited has a 12 month low of $57.24 and a 12 month high of $77.76. The stock's 50-day moving average price is $73.25 and its 200-day moving average price is $66.21.
HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. Equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.
About HDFC Bank
(
Free Report)
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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