D. E. Shaw & Co. Inc. Buys Shares of 885,450 HDFC Bank Limited (NYSE:HDB)

D. E. Shaw & Co. Inc. purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 885,450 shares of the bank’s stock, valued at approximately $56,961,000.

A number of other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of HDFC Bank by 5.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 12,247 shares of the bank’s stock valued at $822,000 after purchasing an additional 625 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in HDFC Bank by 6.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,500 shares of the bank’s stock valued at $369,000 after buying an additional 335 shares during the last quarter. Madison Asset Management LLC boosted its holdings in HDFC Bank by 10.6% in the fourth quarter. Madison Asset Management LLC now owns 99,787 shares of the bank’s stock worth $6,697,000 after acquiring an additional 9,540 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of HDFC Bank by 140.3% during the fourth quarter. Alberta Investment Management Corp now owns 657,660 shares of the bank’s stock worth $44,136,000 after acquiring an additional 383,939 shares during the last quarter. Finally, Rathbones Group PLC increased its holdings in shares of HDFC Bank by 26.0% during the fourth quarter. Rathbones Group PLC now owns 73,668 shares of the bank’s stock valued at $4,944,000 after acquiring an additional 15,190 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HDB. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Stock Performance

Shares of HDB opened at $64.35 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a 50-day moving average of $61.33 and a two-hundred day moving average of $59.63. The stock has a market cap of $119.69 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.76 and a beta of 0.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44.

HDFC Bank (NYSE:HDB) last released 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. The firm 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, research analysts predict that HDFC Bank Limited will post 2.97 EPS for the current 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.