Massachusetts Financial Services Co. MA Increases Stake in HDFC Bank Limited (NYSE:HDB)

Massachusetts Financial Services Co. MA increased its holdings in HDFC Bank Limited (NYSE:HDB) by 11.3% in the second quarter, Holdings Channel.com reports. The firm owned 4,791,134 shares of the bank’s stock after acquiring an additional 486,653 shares during the period. Massachusetts Financial Services Co. MA’s holdings in HDFC Bank were worth $308,214,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HDB. Frazier Financial Advisors LLC purchased a new stake in shares of HDFC Bank in the 4th quarter valued at $29,000. Northwest Investment Counselors LLC bought a new stake in HDFC Bank during the 1st quarter valued at $34,000. Janiczek Wealth Management LLC bought a new stake in HDFC Bank during the 1st quarter valued at $35,000. Ridgewood Investments LLC bought a new stake in HDFC Bank during the 2nd quarter valued at $36,000. Finally, LRI Investments LLC bought a new stake in HDFC Bank during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 0.4 %

NYSE:HDB opened at $62.85 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The firm has a market capitalization of $116.90 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.63 and a beta of 0.92. The company has a fifty day moving average of $60.50 and a 200 day moving average of $59.08.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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 lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

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.