Trinity Street Asset Management LLP Buys 2,870,400 Shares of HDFC Bank Limited $HDB

Trinity Street Asset Management LLP lifted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 88.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,133,600 shares of the bank’s stock after purchasing an additional 2,870,400 shares during the quarter. HDFC Bank accounts for about 14.3% of Trinity Street Asset Management LLP’s portfolio, making the stock its 3rd largest position. Trinity Street Asset Management LLP owned about 0.12% of HDFC Bank worth $209,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after buying an additional 922 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after acquiring an additional 13,435 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of HDFC Bank by 34.6% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 10,866 shares of the bank’s stock valued at $833,000 after acquiring an additional 2,793 shares in the last quarter. Sivia Capital Partners LLC grew its position in HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in HDFC Bank by 32.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,350 shares of the bank’s stock worth $869,000 after purchasing an additional 2,780 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDFC Bank stock opened at $32.49 on Friday. The stock’s 50 day moving average is $35.63 and its 200 day moving average is $36.24. HDFC Bank Limited has a one year low of $29.01 and a one year high of $39.81. The firm has a market cap of $165.75 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.33 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.08. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

HDB has been the topic of a number of recent research reports. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, HDFC Bank currently has an average rating of “Moderate Buy”.

HDFC Bank Profile

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).