Hudson Edge Investment Partners Inc. Buys New Position in HDFC Bank Limited (NYSE:HDB)

Hudson Edge Investment Partners Inc. purchased a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 792,800 shares of the bank's stock, valued at approximately $51,001,000. HDFC Bank makes up approximately 9.9% of Hudson Edge Investment Partners Inc.'s investment portfolio, making the stock its largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd increased its holdings in HDFC Bank by 10.8% during the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank's stock valued at $912,313,000 after acquiring an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. boosted its position 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 acquiring an additional 263,690 shares during the last quarter. Harding Loevner LP grew its stake in shares of HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank's stock valued at $621,646,000 after buying an additional 2,276,203 shares during the period. Sustainable Growth Advisers LP grew its position in HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank's stock valued at $493,884,000 after acquiring an additional 1,711,784 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of HDFC Bank by 1.6% in the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank's stock worth $581,679,000 after purchasing an additional 133,791 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

HDB has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded HDFC Bank from an "overweight" rating to a "neutral" rating in a research report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Thursday, June 13th.

HDFC Bank Stock Down 0.7 %

HDB traded down $0.44 on Friday, reaching $60.51. The company's stock had a trading volume of 2,784,805 shares, compared to its average volume of 3,118,064. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44. The business's 50 day moving average is $60.83 and its 200 day moving average is $58.74. The stock has a market cap of $112.54 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. As a group, research analysts forecast that HDFC Bank Limited will post 2.98 EPS for the current fiscal year.

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.