Public Employees Retirement System of Ohio Grows Position in HDFC Bank Limited $HDB

Public Employees Retirement System of Ohio grew its holdings in HDFC Bank Limited (NYSE:HDB) by 3.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,932,932 shares of the bank’s stock after buying an additional 59,402 shares during the period. Public Employees Retirement System of Ohio’s holdings in HDFC Bank were worth $48,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership purchased a new stake in HDFC Bank during the 1st quarter valued at about $13,147,000. Coronation Fund Managers Ltd. lifted its stake in HDFC Bank by 14.6% in the 1st quarter. Coronation Fund Managers Ltd. now owns 554,295 shares of the bank’s stock worth $13,791,000 after purchasing an additional 70,681 shares in the last quarter. First Trust Advisors LP lifted its stake in HDFC Bank by 48.5% in the 1st quarter. First Trust Advisors LP now owns 139,728 shares of the bank’s stock worth $3,476,000 after purchasing an additional 45,629 shares in the last quarter. XY Capital Ltd acquired a new position in shares of HDFC Bank during the 1st quarter worth approximately $5,293,000. Finally, Temasek Holdings Private Ltd boosted its holdings in shares of HDFC Bank by 15.5% during the 1st quarter. Temasek Holdings Private Ltd now owns 12,559,656 shares of the bank’s stock worth $312,484,000 after purchasing an additional 1,686,276 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDFC Bank stock opened at $23.26 on Friday. The firm has a 50 day simple moving average of $24.83 and a 200-day simple moving average of $27.70. The stock has a market cap of $118.67 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.09 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $22.66 and a 1-year high of $39.07.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. The firm had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. Equities analysts expect that HDFC Bank Limited will post 1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HDB has been the subject of several recent research reports. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insider Buying and Selling at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the transaction, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

About HDFC Bank

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).