Clearbridge Investments LLC Purchases 853,287 Shares of HDFC Bank Limited (NYSE:HDB)

Clearbridge Investments LLC grew its position in HDFC Bank Limited (NYSE:HDB) by 141.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,457,755 shares of the bank’s stock after buying an additional 853,287 shares during the quarter. Clearbridge Investments LLC’s holdings in HDFC Bank were worth $93,777,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Breakout Capital Partners LP acquired a new position in HDFC Bank during the fourth quarter valued at approximately $18,894,000. Manning & Napier Advisors LLC bought a new stake in shares of HDFC Bank during the 2nd quarter worth $166,709,000. Sei Investments Co. boosted its stake in HDFC Bank by 0.8% in the fourth quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock valued at $111,481,000 after buying an additional 13,610 shares in the last quarter. Schroder Investment Management Group raised its stake in HDFC Bank by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock worth $581,679,000 after acquiring an additional 133,791 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of HDFC Bank by 97.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 854,985 shares of the bank’s stock worth $57,378,000 after acquiring an additional 421,740 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Down 0.1 %

NYSE:HDB opened at $62.33 on Thursday. 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 one year low of $52.16 and a one year high of $67.44. The firm’s 50 day simple moving average is $61.46 and its 200 day simple moving average is $59.79. The company has a market cap of $115.92 billion, a PE ratio of 19.12, a P/E/G ratio of 1.76 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.27. The company had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. 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.