State of New Jersey Common Pension Fund D Has $89.72 Million Position in HDFC Bank Limited $HDB

State of New Jersey Common Pension Fund D increased its position in HDFC Bank Limited (NYSE:HDB) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,170,223 shares of the bank’s stock after buying an additional 13,825 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in HDFC Bank were worth $89,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank in the 2nd quarter worth $30,000. Larson Financial Group LLC lifted its holdings in shares of HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after purchasing an additional 507 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in HDFC Bank during the 1st quarter valued at $61,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HDB shares. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Up 1.0%

HDB stock opened at $36.81 on Friday. The business’s 50-day moving average price is $35.52 and its 200-day moving average price is $36.54. The stock has a market cap of $187.77 billion, a P/E ratio of 22.38, a PEG ratio of 1.94 and a beta of 0.63. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.07% and a net margin of 14.94%.The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.98 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal 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.