Riverbridge Partners LLC Invests $240,000 in HDFC Bank Limited (NYSE:HDB)

Riverbridge Partners LLC bought a new position in HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,613 shares of the bank's stock, valued at approximately $240,000.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of HDFC Bank by 6.8% in the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after acquiring an additional 153 shares in the last quarter. Waverton Investment Management Ltd grew its position in shares of HDFC Bank by 1.0% in the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank's stock worth $1,275,000 after acquiring an additional 203 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of 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 acquiring an additional 240 shares in the last quarter. Level Four Advisory Services LLC grew its position in shares of HDFC Bank by 3.6% in the 4th quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock worth $438,000 after acquiring an additional 241 shares in the last quarter. Finally, Portside Wealth Group LLC grew its position in shares of HDFC Bank by 2.7% in the 1st quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

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

HDFC Bank Trading Up 0.4%

NYSE:HDB opened at $74.68 on Friday. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $77.76. The firm has a market capitalization of $189.12 billion, a P/E 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. The business has a 50 day simple moving average of $73.40 and a 200 day simple moving average of $66.27.

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. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. Equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Company 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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