State of New Jersey Common Pension Fund D Acquires 107,847 Shares of HDFC Bank Limited $HDB

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in HDFC Bank Limited by 10.3%, owning over 1.15 million shares worth approximately $76.83 million.
• HDFC Bank's stock performance showed a price range of $57.78 to $79.61 over the past year, with a recent opening price of $73.84.
• The bank's Q2 earnings report indicated an EPS of $0.74, slightly missing the expectation of $0.75, while revenue exceeded estimates at $5.10 billion.

State of New Jersey Common Pension Fund D increased its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,156,398 shares of the bank's stock after acquiring an additional 107,847 shares during the period. State of New Jersey Common Pension Fund D's holdings in HDFC Bank were worth $76,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank Pictet & Cie Europe AG lifted its position in shares of HDFC Bank by 451.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after acquiring an additional 15,955 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of HDFC Bank by 21.8% in the 4th quarter. Sterling Capital Management LLC now owns 7,895 shares of the bank's stock valued at $504,000 after acquiring an additional 1,413 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of HDFC Bank by 1.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 103,627 shares of the bank's stock valued at $6,618,000 after acquiring an additional 1,436 shares in the last quarter. Mariner LLC lifted its position in shares of HDFC Bank by 6.6% in the 4th quarter. Mariner LLC now owns 62,783 shares of the bank's stock valued at $4,009,000 after acquiring an additional 3,868 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of HDFC Bank by 8.4% in the 4th quarter. Guggenheim Capital LLC now owns 26,135 shares of the bank's stock valued at $1,669,000 after acquiring an additional 2,019 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Down 0.7%

NYSE HDB traded down $0.5320 during midday trading on Tuesday, hitting $74.9180. The company had a trading volume of 1,673,691 shares, compared to its average volume of 2,563,799. The firm has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $70.15. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week high of $79.61. The stock has a market cap of $191.10 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat, HDFC Bank has an average rating of "Strong Buy".

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.