HighVista Strategies LLC Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

HighVista Strategies LLC boosted its stake in HDFC Bank Limited (NYSE:HDB) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,441 shares of the bank’s stock after acquiring an additional 2,400 shares during the period. HighVista Strategies LLC’s holdings in HDFC Bank were worth $1,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. lifted its position in HDFC Bank by 21.1% in the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after acquiring an additional 199,582 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in HDFC Bank by 13.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after acquiring an additional 28,500 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in HDFC Bank in the second quarter valued at $166,709,000. Northwest & Ethical Investments L.P. raised its holdings in shares of HDFC Bank by 42.2% in the third quarter. Northwest & Ethical Investments L.P. now owns 34,100 shares of the bank’s stock valued at $2,133,000 after buying an additional 10,127 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of HDFC Bank by 38.1% in the third quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock valued at $8,750,000 after buying an additional 38,571 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $66.43 on Tuesday. The company has a 50-day simple moving average of $63.34 and a 200-day simple moving average of $61.61. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $168.22 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.77 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. On average, analysts predict that HDFC Bank Limited will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

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.