Gilder Gagnon Howe & Co. LLC lifted its stake in HDFC Bank Limited (NYSE:HDB) by 98.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 835,329 shares of the bank’s stock after buying an additional 413,584 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in HDFC Bank were worth $47,656,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV purchased a new position in shares of HDFC Bank in the third quarter worth about $26,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of HDFC Bank in the third quarter worth about $29,000. Asset Dedication LLC grew its stake in shares of HDFC Bank by 100.0% in the third quarter. Asset Dedication LLC now owns 540 shares of the bank’s stock worth $31,000 after purchasing an additional 270 shares during the last quarter. Lenox Wealth Advisors LLC grew its stake in shares of HDFC Bank by 100.0% in the third quarter. Lenox Wealth Advisors LLC now owns 566 shares of the bank’s stock worth $32,000 after purchasing an additional 283 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the third quarter worth about $34,000. Hedge funds and other institutional investors own 17.98% of the company’s stock.
HDFC Bank stock traded up $0.80 during trading hours on Tuesday, hitting $63.10. 30,729 shares of the stock traded hands, compared to its average volume of 1,056,990. The firm’s 50-day moving average price is $61.43 and its two-hundred day moving average price is $96.52. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The company has a market cap of $114.23 billion, a PE ratio of 38.01, a PEG ratio of 1.29 and a beta of 0.41. HDFC Bank Limited has a one year low of $47.03 and a one year high of $65.89.
HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 19th. The bank reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.67 billion. HDFC Bank had a return on equity of 14.02% and a net margin of 18.25%. On average, sell-side analysts expect that HDFC Bank Limited will post 2.08 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein cut HDFC Bank from an “outperform” rating to a “market perform” rating in a research note on Monday, September 9th. ValuEngine cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research cut HDFC Bank from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $97.32.
HDFC Bank Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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