Quantitative Investment Management LLC Makes New Investment in HDFC Bank Limited $HDB

Key Points

• Quantitative Investment Management LLC has made a new investment in HDFC Bank, acquiring 25,993 shares valued at approximately $1.73 million.
• HDFC Bank received upgraded ratings recently, moving from a "sell" to a "hold" rating by Wall Street Zen, with the consensus rating remaining a "Strong Buy".
• The bank's market capitalization is currently around $188.68 billion, with the latest quarterly earnings report indicating earnings per share of $0.74, slightly below analysts' expectations.

Quantitative Investment Management LLC bought a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,993 shares of the bank's stock, valued at approximately $1,726,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after purchasing an additional 507 shares during the last quarter. NBC Securities Inc. bought a new position in shares of HDFC Bank in the 1st quarter valued at about $55,000. Pinnacle Bancorp Inc. boosted its stake in shares of HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after purchasing an additional 443 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of HDFC Bank by 233.0% in the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock valued at $60,000 after purchasing an additional 629 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

HDB stock traded down $1.19 during mid-day trading on Thursday, hitting $71.10. 1,742,610 shares of the company were exchanged, compared to its average volume of 2,528,441. The firm has a market cap of $181.37 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.86 and a beta of 0.64. The firm's 50 day simple moving average is $75.76 and its 200 day simple moving average is $70.64. HDFC Bank Limited has a 1-year low of $57.78 and a 1-year high of $79.61.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note 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.com, the company presently has a consensus 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.