Rheos Capital Works Inc. Has $27.03 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Rheos Capital Works Inc. grew its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 29.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,000 shares of the bank's stock after acquiring an additional 98,000 shares during the quarter. HDFC Bank accounts for about 1.4% of Rheos Capital Works Inc.'s holdings, making the stock its 22nd largest position. Rheos Capital Works Inc.'s holdings in HDFC Bank were worth $27,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Foster Victor Wealth Advisors LLC boosted its holdings in HDFC Bank by 13.9% during the third quarter. Foster Victor Wealth Advisors LLC now owns 4,780 shares of the bank's stock valued at $287,000 after purchasing an additional 584 shares in the last quarter. Creative Planning boosted its stake in HDFC Bank by 26.0% in the 3rd quarter. Creative Planning now owns 130,768 shares of the bank's stock valued at $8,181,000 after buying an additional 26,983 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in HDFC Bank in the 3rd quarter valued at $533,000. Ritholtz Wealth Management grew its position in HDFC Bank by 38.6% in the third quarter. Ritholtz Wealth Management now owns 11,532 shares of the bank's stock valued at $721,000 after acquiring an additional 3,210 shares during the period. Finally, First Affirmative Financial Network raised its stake in HDFC Bank by 14.7% during the third quarter. First Affirmative Financial Network now owns 3,628 shares of the bank's stock worth $227,000 after acquiring an additional 466 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of NYSE:HDB traded down $1.41 during midday trading on Thursday, reaching $60.88. The company's stock had a trading volume of 1,874,684 shares, compared to its average volume of 3,078,913. The business's fifty day simple moving average is $61.68 and its 200-day simple moving average is $60.17. 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 fifty-two week low of $52.16 and a fifty-two week high of $67.44. The company has a market capitalization of $113.23 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.95 and a beta of 0.92.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.27. The company had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. As a group, equities research analysts expect that HDFC Bank Limited will post 2.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HDB. JPMorgan Chase & Co. lowered shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a report on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, October 12th.

About HDFC Bank

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.