Hudson Edge Investment Partners Inc. Boosts Stock Position in HDFC Bank Limited $HDB

Key Points

• Hudson Edge Investment Partners Inc. increased its stake in HDFC Bank by 100.6% in Q3, adding 755,200 shares to hold 1,506,200 shares valued at $51.45 million, about 8.3% of its portfolio and the firm's 3rd largest holding.
• Multiple other hedge funds also boosted positions in the quarter, leaving institutional investors owning roughly 17.61% of HDFC Bank's stock.
• Analyst sentiment is mixed with a consensus rating of "Hold" (one Buy, one Hold, one Sell) and recent downgrades from some firms, while HDFC Bank reported Q4 EPS of $0.43, topping estimates of $0.39.

Hudson Edge Investment Partners Inc. grew its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 100.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506,200 shares of the bank's stock after acquiring an additional 755,200 shares during the quarter. HDFC Bank accounts for about 8.3% of Hudson Edge Investment Partners Inc.'s investment portfolio, making the stock its 3rd largest holding. Hudson Edge Investment Partners Inc.'s holdings in HDFC Bank were worth $51,452,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HDB. Bruce G. Allen Investments LLC increased its stake in HDFC Bank by 4,118.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,350 shares of the bank's stock worth $46,000 after purchasing an additional 1,318 shares in the last quarter. Boston Common Asset Management LLC boosted its holdings in shares of HDFC Bank by 88.0% in the third quarter. Boston Common Asset Management LLC now owns 849,699 shares of the bank's stock valued at $29,026,000 after buying an additional 397,841 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of HDFC Bank by 64.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 27,448 shares of the bank's stock valued at $938,000 after buying an additional 10,724 shares during the period. Canopy Partners LLC increased its position in shares of HDFC Bank by 103.3% during the third quarter. Canopy Partners LLC now owns 9,293 shares of the bank's stock worth $317,000 after acquiring an additional 4,721 shares in the last quarter. Finally, Platform Technology Partners raised its holdings in shares of HDFC Bank by 56.4% during the third quarter. Platform Technology Partners now owns 11,955 shares of the bank's stock worth $408,000 after acquiring an additional 4,311 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HDB. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, January 12th. Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Wall Street Zen cut HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold".

HDFC Bank Stock Performance

HDB opened at $32.11 on Thursday. HDFC Bank Limited has a 52-week low of $29.04 and a 52-week high of $39.81. The firm has a market capitalization of $163.78 billion, a PE ratio of 19.28, a PEG ratio of 1.30 and a beta of 0.57. The business's 50-day simple moving average is $35.33 and its 200 day simple moving average is $36.07.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. HDFC Bank had a return on equity of 11.06% and a net margin of 14.92%.The firm had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. On average, research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Profile

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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