BNP Paribas Arbitrage SNC Has $6.73 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

BNP Paribas Arbitrage SNC raised its stake in HDFC Bank Limited (NYSE:HDB) by 24.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,517 shares of the bank’s stock after acquiring an additional 18,755 shares during the quarter. BNP Paribas Arbitrage SNC’s holdings in HDFC Bank were worth $6,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AGF Management Ltd. acquired a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $8,187,000. Cumberland Partners Ltd lifted its position in HDFC Bank by 36.4% during the 2nd quarter. Cumberland Partners Ltd now owns 15,000 shares of the bank’s stock worth $1,046,000 after buying an additional 4,000 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of HDFC Bank by 3.9% during the 2nd quarter. Banque Cantonale Vaudoise now owns 35,862 shares of the bank’s stock worth $2,500,000 after buying an additional 1,340 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of HDFC Bank by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 216,926 shares of the bank’s stock valued at $15,120,000 after acquiring an additional 14,782 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of HDFC Bank in the second quarter valued at about $12,635,000. Institutional investors and hedge funds own 17.24% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $58.31 on Tuesday. The firm has a 50-day moving average of $58.77 and a 200-day moving average of $63.65. HDFC Bank Limited has a one year low of $55.95 and a one year high of $71.76. The company has a market cap of $108.45 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.78. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.51 and a quick ratio of 0.51.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, October 16th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. HDFC Bank had a net margin of 19.47% and a return on equity of 16.81%. The company had revenue of $8.02 billion during the quarter. As a group, equities analysts forecast that HDFC Bank Limited will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on HDB. StockNews.com started coverage on HDFC Bank in a research note on Thursday, October 5th. They issued a “hold” rating for the company. TheStreet cut shares of HDFC Bank from a “b-” rating to a “c” rating in a research note on Tuesday, October 17th. Finally, The Goldman Sachs Group raised shares of HDFC Bank from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 21st.

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.