Tokio Marine Asset Management Co. Ltd. Raises Holdings in HDFC Bank Limited (NYSE:HDB)

Tokio Marine Asset Management Co. Ltd. boosted its position in HDFC Bank Limited (NYSE:HDB) by 13.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 241,600 shares of the bank’s stock after acquiring an additional 28,500 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in HDFC Bank were worth $15,114,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in shares of HDFC Bank in the 2nd quarter valued at approximately $36,000. Northwest Investment Counselors LLC bought a new stake in HDFC Bank during the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC raised its holdings in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. LRI Investments LLC purchased a new position in shares of HDFC Bank in the first quarter worth $56,000. Finally, GAMMA Investing LLC raised its position in HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HDB shares. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Price Performance

HDB traded up $0.54 during trading on Thursday, hitting $61.92. 99,282 shares of the company traded hands, compared to its average volume of 2,973,705. The company has a market cap of $156.80 billion, a PE ratio of 18.66, a P/E/G ratio of 1.63 and a beta of 0.91. The stock’s 50-day simple moving average is $62.81 and its two-hundred day simple moving average is $60.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.2 earnings per share for the current fiscal year.

HDFC Bank 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.