MayTech Global Investments LLC Grows Position in HDFC Bank Limited (NYSE:HDB)

MayTech Global Investments LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,311 shares of the bank’s stock after acquiring an additional 28,579 shares during the quarter. HDFC Bank makes up 1.4% of MayTech Global Investments LLC’s portfolio, making the stock its 21st biggest holding. MayTech Global Investments LLC’s holdings in HDFC Bank were worth $10,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ridgewood Investments LLC acquired a new position in HDFC Bank in the 2nd quarter valued at about $36,000. Northwest Investment Counselors LLC purchased a new stake in shares of HDFC Bank during the third quarter worth about $38,000. JFS Wealth Advisors LLC raised its position in shares of HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. LRI Investments LLC acquired a new stake in HDFC Bank during the first quarter worth approximately $56,000. Finally, GAMMA Investing LLC boosted its position in HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday.

HDFC Bank Stock Performance

NYSE HDB opened at $67.50 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $170.93 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The business’s 50-day moving average price is $63.26 and its 200 day moving average price is $61.41. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.76.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $4.84 billion. On average, research analysts predict that HDFC Bank Limited will post 3.15 earnings per share for the current year.

HDFC Bank Company Profile

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.