Rathbones Group PLC Grows Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Rathbones Group PLC grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 60.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,633 shares of the bank’s stock after buying an additional 78,330 shares during the quarter. Rathbones Group PLC’s holdings in HDFC Bank were worth $13,421,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Royal London Asset Management Ltd. boosted its stake in shares of HDFC Bank by 234.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after purchasing an additional 4,687,487 shares during the period. Capital World Investors boosted its stake in shares of HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after purchasing an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of HDFC Bank in the second quarter valued at $166,709,000. PineStone Asset Management Inc. boosted its stake in shares of HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after purchasing an additional 2,391,343 shares during the period. Finally, Harding Loevner LP boosted its stake in shares of HDFC Bank by 31.7% in the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Up 0.2 %

Shares of NYSE:HDB opened at $62.60 on Monday. The stock has a market capitalization of $158.52 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company’s fifty day moving average is $60.48 and its two-hundred day moving average is $59.01. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The company had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. Equities analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current year.

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.