Castleark Management LLC Boosts Position in HDFC Bank Limited (NYSE:HDB)

Castleark Management LLC raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 110.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,390 shares of the bank’s stock after buying an additional 12,250 shares during the period. Castleark Management LLC’s holdings in HDFC Bank were worth $1,463,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HDB. Baillie Gifford & Co. boosted its position in HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock worth $741,932,000 after purchasing an additional 263,690 shares during the period. Temasek Holdings Private Ltd boosted its position in shares of HDFC Bank by 1.6% in the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock worth $523,453,000 after buying an additional 132,445 shares during the period. FMR LLC grew its stake in shares of HDFC Bank by 19.3% in the third quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after buying an additional 1,114,210 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of HDFC Bank by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock valued at $317,141,000 after buying an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in HDFC Bank by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock worth $302,970,000 after acquiring an additional 51,736 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $67.31 on Friday. The firm has a 50-day moving average of $63.48 and a two-hundred day moving average of $61.95. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market cap of $170.45 billion, a P/E ratio of 20.46, a PEG ratio of 1.80 and a beta of 0.92. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $68.41.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. On average, research analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

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.