78,080 Shares of HDFC Bank Limited $HDB Acquired by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC bought a new position in shares of HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, Holdings Channel reports. The fund bought 78,080 shares of the bank’s stock, valued at approximately $1,772,000.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in HDFC Bank by 31.0% in the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock worth $1,457,865,000 after purchasing an additional 9,451,992 shares in the last quarter. Principal Financial Group Inc. lifted its stake in HDFC Bank by 16,808.5% in the first quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank’s stock valued at $447,289,000 after buying an additional 17,871,520 shares during the period. Temasek Holdings Private Ltd boosted its holdings in shares of HDFC Bank by 15.5% during the 1st quarter. Temasek Holdings Private Ltd now owns 12,559,656 shares of the bank’s stock worth $312,484,000 after buying an additional 1,686,276 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of HDFC Bank by 40.7% during the 1st quarter. Bank of America Corp DE now owns 10,549,235 shares of the bank’s stock worth $262,465,000 after buying an additional 3,051,055 shares in the last quarter. Finally, Trinity Street Asset Management LLP grew its position in shares of HDFC Bank by 27.3% during the 1st quarter. Trinity Street Asset Management LLP now owns 7,724,700 shares of the bank’s stock worth $192,191,000 after buying an additional 1,657,700 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HDB. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. The Goldman Sachs Group assumed coverage on shares of HDFC Bank in a research note on Friday, August 21st. They set a “buy” rating on the stock. HSBC lowered shares of HDFC Bank from a “buy” rating to a “hold” rating and cut their target price for the stock from $30.80 to $26.10 in a research note on Monday, August 31st. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, HDFC Bank currently has a consensus rating of “Hold” and an average price target of $26.10.

HDFC Bank Trading Up 0.8%

HDFC Bank stock traded up $0.18 during midday trading on Tuesday, reaching $22.76. The stock had a trading volume of 6,516,068 shares, compared to its average volume of 9,094,453. HDFC Bank Limited has a 12 month low of $21.70 and a 12 month high of $37.45. The company has a market capitalization of $116.80 billion, a P/E ratio of 13.39, a PEG ratio of 1.09 and a beta of 0.61. The company has a fifty day moving average price of $22.93 and a two-hundred day moving average price of $24.29.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%. The business had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $5 billion. On average, equities research analysts predict that HDFC Bank Limited will post 1.64 earnings per share for the current fiscal year.

About HDFC Bank

HDFC Bank Limited is a financial services company headquartered in Mumbai, India. Established in 1994, it operates as a private-sector commercial bank serving individuals, businesses, institutions and government-related entities.

The bank offers a broad range of products and services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, investment products and insurance distribution.