Hudson Edge Investment Partners Inc. Takes Position in HDFC Bank Limited (NYSE:HDB)

Hudson Edge Investment Partners Inc. purchased a new position in HDFC Bank Limited (NYSE:HDB) during the second quarter, Holdings Channel.com reports. The fund purchased 792,800 shares of the bank’s stock, valued at approximately $51,001,000. HDFC Bank accounts for 9.9% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its largest position.

Several other institutional investors have also bought and sold shares of HDB. International Assets Investment Management LLC bought a new stake in shares of HDFC Bank in the fourth quarter valued at $3,202,000. Private Advisor Group LLC raised its stake in HDFC Bank by 2.3% in the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock valued at $661,000 after acquiring an additional 218 shares during the period. Apollon Wealth Management LLC purchased a new stake in HDFC Bank during the fourth quarter valued at about $277,000. Principal Securities Inc. bought a new position in HDFC Bank during the fourth quarter worth about $82,000. Finally, QRG Capital Management Inc. increased its stake in shares of HDFC Bank by 14.0% in the fourth quarter. QRG Capital Management Inc. now owns 26,388 shares of the bank’s stock worth $1,771,000 after purchasing an additional 3,239 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB traded down $0.44 during midday trading on Friday, hitting $60.51. 2,784,805 shares of the company traded hands, compared to its average volume of 3,118,064. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The firm has a market cap of $112.54 billion, a P/E ratio of 18.56, a PEG ratio of 1.62 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50-day moving average of $60.83 and a 200-day moving average of $58.70.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. As a group, sell-side analysts predict that HDFC Bank Limited will post 2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

About HDFC Bank

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.