Westerkirk Capital Inc. Takes $2.80 Million Position in HDFC Bank Limited $HDB

Westerkirk Capital Inc. acquired a new position in HDFC Bank Limited (NYSE:HDB) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 81,858 shares of the bank’s stock, valued at approximately $2,796,000.

Several other large investors have also recently added to or reduced their stakes in HDB. Hudson Edge Investment Partners Inc. raised its holdings in HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock worth $51,452,000 after buying an additional 755,200 shares during the period. ABN Amro Investment Solutions boosted its holdings in shares of HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after buying an additional 104,525 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of HDFC Bank by 102.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after acquiring an additional 1,199,084 shares in the last quarter. Cabot Wealth Management Inc. raised its holdings in shares of HDFC Bank by 97.0% during the third quarter. Cabot Wealth Management Inc. now owns 575,800 shares of the bank’s stock valued at $19,669,000 after acquiring an additional 283,520 shares during the period. Finally, Impax Asset Management Group plc lifted its position in shares of HDFC Bank by 77.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank’s stock valued at $57,641,000 after acquiring an additional 735,409 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of HDB opened at $33.11 on Friday. The company has a market capitalization of $168.88 billion, a PE ratio of 19.88, a PEG ratio of 1.38 and a beta of 0.57. The company’s 50 day moving average price is $33.94 and its 200 day moving average price is $35.25. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last issued its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The company had revenue of $9.01 billion during the quarter, compared to analyst estimates of $5.12 billion. On average, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

HDB has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).