Jupiter Asset Management Ltd. Increases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Jupiter Asset Management Ltd. increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 310,522 shares of the bank’s stock after purchasing an additional 41,762 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in HDFC Bank were worth $19,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AGF Management Ltd. increased its position in HDFC Bank by 61.5% during the second quarter. AGF Management Ltd. now owns 235,208 shares of the bank’s stock valued at $15,131,000 after acquiring an additional 89,594 shares during the last quarter. Choreo LLC purchased a new position in shares of HDFC Bank during the 2nd quarter worth about $1,175,000. Hudson Edge Investment Partners Inc. bought a new position in HDFC Bank during the 2nd quarter valued at about $51,001,000. Caprock Group LLC raised its position in HDFC Bank by 40.0% in the 2nd quarter. Caprock Group LLC now owns 19,692 shares of the bank’s stock worth $1,267,000 after purchasing an additional 5,629 shares during the period. Finally, Letko Brosseau & Associates Inc. lifted its stake in HDFC Bank by 19.9% in the second quarter. Letko Brosseau & Associates Inc. now owns 25,200 shares of the bank’s stock worth $1,621,000 after purchasing an additional 4,175 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

HDB has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Price Performance

Shares of HDB stock opened at $62.48 on Friday. The company has a market capitalization of $116.21 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.61 and a beta of 0.92. The company’s 50-day simple moving average is $60.47 and its two-hundred day simple moving average is $58.88. 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 current ratio of 0.51 and a quick ratio of 0.51.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The company had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. As a group, equities analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current 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.