HDFC Bank Limited (NYSE:HDB) Stock Position Lifted by M&T Bank Corp

M&T Bank Corp increased its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,479 shares of the bank's stock after buying an additional 8,287 shares during the quarter. M&T Bank Corp's holdings in HDFC Bank were worth $3,971,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in shares of HDFC Bank by 2.3% in the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock worth $741,932,000 after purchasing an additional 263,690 shares in the last quarter. Temasek Holdings Private Ltd increased its stake in HDFC Bank by 1.6% during the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank's stock valued at $523,453,000 after buying an additional 132,445 shares during the period. FMR LLC raised its position in shares of HDFC Bank by 19.3% during the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank's stock worth $430,339,000 after buying an additional 1,114,210 shares in the last quarter. Wellington Management Group LLP raised its holdings in HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank's stock worth $317,141,000 after purchasing an additional 108,312 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of HDFC Bank by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank's stock valued at $302,970,000 after purchasing an additional 51,736 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th.

HDFC Bank Price Performance

NYSE:HDB traded up $0.37 during trading hours on Friday, reaching $66.99. 2,005,680 shares of the company's stock were exchanged, compared to its average volume of 3,002,899. The company has a market capitalization of $169.64 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.50. The business's 50-day simple moving average is $63.93 and its two-hundred day simple moving average is $62.20. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The business had revenue of $9.21 billion for the quarter, compared to analysts' expectations of $4.84 billion. Sell-side analysts expect that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

HDFC Bank Company 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.