ARGA Investment Management LP Purchases 44,794 Shares of HDFC Bank Limited (NYSE:HDB)

ARGA Investment Management LP increased its holdings in HDFC Bank Limited (NYSE:HDB) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,449,813 shares of the bank’s stock after purchasing an additional 44,794 shares during the quarter. HDFC Bank makes up approximately 3.0% of ARGA Investment Management LP’s holdings, making the stock its 14th largest holding. ARGA Investment Management LP owned about 0.06% of HDFC Bank worth $92,585,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. grew its position in shares of HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after buying an additional 254 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the third quarter worth $38,000. JFS Wealth Advisors LLC boosted its holdings in HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after acquiring an additional 275 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in HDFC Bank during the 3rd quarter valued at $65,000. Finally, GAMMA Investing LLC raised its holdings in HDFC Bank by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $61.13 on Wednesday. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.50. The firm has a market capitalization of $154.79 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.67 and a beta of 0.91. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $63.21 and a two-hundred day simple moving average of $62.37.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, equities analysts forecast that HDFC Bank Limited will post 3.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of research reports. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.