HDFC Bank Limited (NYSE:HDB) Shares Acquired by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 56.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 139,612 shares of the bank’s stock after purchasing an additional 50,301 shares during the period. Deprince Race & Zollo Inc.’s holdings in HDFC Bank were worth $8,981,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HDB. Royal London Asset Management Ltd. increased its holdings in shares of HDFC Bank by 234.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after purchasing an additional 4,687,487 shares during the last quarter. Capital World Investors raised its position in shares of HDFC Bank by 208.6% during the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after buying an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC acquired a new position in HDFC Bank in the second quarter valued at approximately $166,709,000. PineStone Asset Management Inc. grew its position in 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 period. Finally, Harding Loevner LP increased its stake in 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 acquiring an additional 2,276,203 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $65.78 on Friday. The business has a 50-day simple moving average of $61.13 and a 200-day simple moving average of $59.53. The company has a market cap of $122.35 billion, a PE ratio of 20.18, 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. 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 announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. The firm had revenue of $14.03 billion during 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, equities research analysts forecast that HDFC Bank Limited will post 2.97 EPS for the current fiscal year.

About HDFC Bank

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.