Massachusetts Financial Services Co. MA Acquires 486,653 Shares of HDFC Bank Limited (NYSE:HDB)

Massachusetts Financial Services Co. MA increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.26% of HDFC Bank worth $308,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. increased its holdings in HDFC Bank by 5.4% during the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock worth $311,000 after acquiring an additional 248 shares during the period. Endowment Wealth Management Inc. increased its holdings in HDFC Bank by 6.5% during the 1st quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock worth $248,000 after acquiring an additional 272 shares during the period. GAMMA Investing LLC increased its holdings in HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares during the period. Toronto Dominion Bank increased its holdings in HDFC Bank by 10.8% during the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock worth $186,000 after acquiring an additional 325 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in HDFC Bank by 6.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,500 shares of the bank’s stock worth $369,000 after acquiring an additional 335 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HDB. 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 cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Price Performance

HDB stock opened at $62.85 on Tuesday. 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 stock has a market cap of $116.90 billion, a PE ratio of 19.28, a P/E/G ratio of 1.63 and a beta of 0.92. The firm has a 50 day simple moving average of $60.50 and a two-hundred day simple moving average of $59.08.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.81 billion. On average, analysts predict 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.