Envestnet Asset Management Inc. Increases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Envestnet Asset Management Inc. increased its stake in HDFC Bank Limited (NYSE:HDB) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 957,693 shares of the bank’s stock after acquiring an additional 82,566 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of HDFC Bank worth $61,608,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HDB. Royal London Asset Management Ltd. increased its stake in shares of HDFC Bank by 234.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock worth $448,970,000 after purchasing an additional 4,687,487 shares in the last quarter. Capital World Investors raised its holdings in shares of HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after acquiring an additional 2,788,197 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of HDFC Bank in the second quarter valued at approximately $166,709,000. PineStone Asset Management Inc. boosted its stake in shares of HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after acquiring an additional 2,391,343 shares during the last quarter. Finally, Harding Loevner LP increased its position in shares of HDFC Bank by 31.7% during the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after purchasing an additional 2,276,203 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HDB. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Stock Performance

NYSE HDB opened at $63.44 on Thursday. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44. The firm has a market capitalization of $117.99 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The stock’s fifty day moving average is $60.60 and its two-hundred day moving average is $59.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The company had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. On average, research analysts anticipate that HDFC Bank Limited will post 2.97 earnings per share for the current 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.