Westerkirk Capital Inc. Invests $2.80 Million in HDFC Bank Limited $HDB

Westerkirk Capital Inc. purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 81,858 shares of the bank’s stock, valued at approximately $2,796,000.

Other large investors have also made changes to their positions in the company. Explore Capital Management LLC raised its position in HDFC Bank by 163.6% during the third quarter. Explore Capital Management LLC now owns 298,860 shares of the bank’s stock valued at $10,209,000 after acquiring an additional 185,480 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in shares of HDFC Bank by 53.9% during the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 8,625 shares of the bank’s stock valued at $295,000 after purchasing an additional 3,020 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of HDFC Bank by 42.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 25,770 shares of the bank’s stock valued at $880,000 after purchasing an additional 7,692 shares during the last quarter. Premier Fund Managers Ltd boosted its holdings in HDFC Bank by 96.7% in the third quarter. Premier Fund Managers Ltd now owns 17,654 shares of the bank’s stock worth $603,000 after purchasing an additional 8,677 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ boosted its holdings in HDFC Bank by 97.8% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 63,586 shares of the bank’s stock worth $2,172,000 after purchasing an additional 31,443 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of analyst reports. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, HDFC Bank presently has an average rating of “Hold”.

HDFC Bank Price Performance

HDFC Bank stock opened at $33.11 on Friday. HDFC Bank Limited has a fifty-two week low of $29.23 and a fifty-two week high of $39.81. The firm has a fifty day moving average price of $33.94 and a two-hundred day moving average price of $35.25. The firm has a market cap of $168.88 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.38 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%.The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5.12 billion. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).