Massachusetts Financial Services Co. MA Buys 1,545,639 Shares of HDFC Bank Limited (NYSE:HDB)

Massachusetts Financial Services Co. MA grew its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 32.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,250,093 shares of the bank's stock after acquiring an additional 1,545,639 shares during the period. Massachusetts Financial Services Co. MA owned 0.25% of HDFC Bank worth $415,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HDB. OVERSEA CHINESE BANKING Corp Ltd grew its stake in HDFC Bank by 6,502.2% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock worth $389,887,000 after acquiring an additional 5,779,375 shares in the last quarter. GQG Partners LLC boosted its stake in shares of HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after purchasing an additional 3,364,114 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of HDFC Bank by 82.1% during the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after purchasing an additional 3,160,533 shares in the last quarter. FIL Ltd boosted its stake in shares of HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after purchasing an additional 2,599,337 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after purchasing an additional 2,196,315 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

HDFC Bank Trading Down 1.0%

NYSE:HDB opened at $75.26 on Tuesday. HDFC Bank Limited has a 52 week low of $57.24 and a 52 week high of $78.14. The firm has a 50 day moving average of $74.72 and a 200 day moving average of $67.40. 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 stock has a market capitalization of $190.58 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Profile

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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