Dalton Investments Inc. Buys 28,400 Shares of HDFC Bank Limited (NYSE:HDB)

Dalton Investments Inc. grew its stake in HDFC Bank Limited (NYSE:HDB) by 97.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,500 shares of the bank’s stock after acquiring an additional 28,400 shares during the quarter. HDFC Bank accounts for 2.1% of Dalton Investments Inc.’s holdings, making the stock its 11th biggest position. Dalton Investments Inc.’s holdings in HDFC Bank were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of HDB. Ridgewood Investments LLC acquired a new position in HDFC Bank in the second quarter valued at about $36,000. Northwest Investment Counselors LLC bought a new position in shares of HDFC Bank during the 1st quarter valued at about $34,000. Janiczek Wealth Management LLC acquired a new position in shares of HDFC Bank in the 1st quarter valued at approximately $35,000. GAMMA Investing LLC increased its stake in HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 shares in the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in HDFC Bank during the 4th quarter worth approximately $67,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 1.4 %

Shares of HDFC Bank stock opened at $65.73 on Friday. The firm has a market cap of $122.25 billion, a PE ratio of 20.16, a P/E/G ratio of 1.63 and a beta of 0.92. The business’s 50 day simple moving average is $60.79 and its 200 day simple moving average is $59.31. 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 Limited has a 52-week low of $52.16 and a 52-week high of $67.44.

HDFC Bank (NYSE:HDB) last posted 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. 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, analysts predict that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HDB. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a 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 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.