KLP Kapitalforvaltning AS Buys 1,500 Shares of HDFC Bank Limited (NYSE:HDB)

KLP Kapitalforvaltning AS boosted its stake in HDFC Bank Limited (NYSE:HDB) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 241,100 shares of the bank’s stock after acquiring an additional 1,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in HDFC Bank were worth $16,019,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HDB. GAMMA Investing LLC raised its position in shares of HDFC Bank by 6.8% during the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank’s stock worth $159,000 after purchasing an additional 153 shares during the period. DMC Group LLC raised its position in shares of HDFC Bank by 2.5% during the first quarter. DMC Group LLC now owns 7,418 shares of the bank’s stock worth $493,000 after purchasing an additional 181 shares during the period. Platform Technology Partners raised its position in shares of HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank’s stock worth $508,000 after purchasing an additional 201 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock worth $39,000 after purchasing an additional 240 shares during the period. Finally, Level Four Advisory Services LLC raised its position in shares of HDFC Bank by 3.6% during the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank’s stock worth $438,000 after purchasing an additional 241 shares during the period. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Up 1.0%

NYSE HDB opened at $78.96 on Thursday. The stock’s 50-day simple moving average is $75.43 and its two-hundred day simple moving average is $67.98. HDFC Bank Limited has a twelve month low of $57.24 and a twelve month high of $79.62. The company has a market capitalization of $199.94 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.95 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th.

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.