684,624 Shares in HDFC Bank Limited $HDB Bought by Milestone Resources Group Ltd

Milestone Resources Group Ltd purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 684,624 shares of the bank’s stock, valued at approximately $52,490,000. HDFC Bank accounts for 2.7% of Milestone Resources Group Ltd’s portfolio, making the stock its 9th largest holding.

A number of other large investors also recently modified their holdings of HDB. Central Pacific Bank Trust Division purchased a new stake in shares of HDFC Bank during the 2nd quarter worth about $29,000. Roxbury Financial LLC purchased a new stake in HDFC Bank during the 2nd quarter worth $30,000. Larson Financial Group LLC increased its holdings in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after purchasing an additional 507 shares during the period. Finally, Whipplewood Advisors LLC lifted its stake in shares of HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

Shares of HDB stock opened at $36.73 on Wednesday. The stock has a market capitalization of $187.36 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The company’s 50-day simple moving average is $35.50 and its 200-day simple moving average is $36.71.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. The firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.98 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%. As a group, research analysts forecast that HDFC Bank Limited will post 3.03 EPS 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.