Azimuth Capital Investment Management LLC Boosts Stock Position in HDFC Bank Limited $HDB

Azimuth Capital Investment Management LLC increased its holdings in HDFC Bank Limited (NYSE:HDB) by 104.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 260,264 shares of the bank’s stock after buying an additional 133,147 shares during the period. Azimuth Capital Investment Management LLC’s holdings in HDFC Bank were worth $8,891,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HDB. Hudson Edge Investment Partners Inc. increased its stake in HDFC Bank by 100.6% during the third quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock worth $51,452,000 after acquiring an additional 755,200 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in shares of HDFC Bank by 97.7% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock valued at $13,088,000 after purchasing an additional 189,303 shares during the last quarter. ABN Amro Investment Solutions boosted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after purchasing an additional 104,525 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of HDFC Bank by 102.5% in the 3rd 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 purchasing an additional 1,199,084 shares during the period. Finally, Impax Asset Management Group plc increased its position in shares of HDFC Bank by 77.3% during 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 purchasing an additional 735,409 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

HDFC Bank Price Performance

Shares of HDB stock opened at $28.25 on Friday. The company has a market capitalization of $144.11 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.17 and a beta of 0.56. The company’s 50-day simple moving average is $32.28 and its two-hundred day simple moving average is $34.55. HDFC Bank Limited has a one year low of $28.05 and a one year high of $39.81.

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).