Valiant Capital Management L.P. Has $54.44 Million Position in HDFC Bank Limited $HDB

Valiant Capital Management L.P. lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 710,000 shares of the bank’s stock after purchasing an additional 31,400 shares during the period. HDFC Bank accounts for 3.0% of Valiant Capital Management L.P.’s portfolio, making the stock its 11th largest holding. Valiant Capital Management L.P.’s holdings in HDFC Bank were worth $54,436,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in HDFC Bank during the second quarter worth approximately $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $30,000. Whipplewood Advisors LLC increased its holdings in shares of HDFC Bank by 112.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after acquiring an additional 290 shares during the last quarter. NewSquare Capital LLC raised its stake in HDFC Bank by 136.4% in the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after acquiring an additional 390 shares during the period. Finally, Assetmark Inc. raised its stake in HDFC Bank by 358.4% in the 2nd quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after acquiring an additional 552 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

HDB stock opened at $35.15 on Wednesday. The company’s 50-day simple moving average is $35.99 and its 200 day simple moving average is $36.70. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81. The company has a market capitalization of $179.30 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.58 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $4.98 billion. On average, analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a research report on Thursday, December 4th. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

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.