Pinpoint Asset Management Ltd Grows Position in HDFC Bank Limited (NYSE:HDB)

Pinpoint Asset Management Ltd raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 394.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,850 shares of the bank’s stock after buying an additional 44,550 shares during the period. HDFC Bank comprises approximately 0.8% of Pinpoint Asset Management Ltd’s investment portfolio, making the stock its 23rd biggest position. Pinpoint Asset Management Ltd’s holdings in HDFC Bank were worth $3,494,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC boosted its holdings in HDFC Bank by 2.3% during the 3rd quarter. HighTower Advisors LLC now owns 220,149 shares of the bank’s stock valued at $13,784,000 after acquiring an additional 5,025 shares during the period. HighVista Strategies LLC lifted its position in shares of HDFC Bank by 9.6% during the third quarter. HighVista Strategies LLC now owns 27,441 shares of the bank’s stock worth $1,717,000 after purchasing an additional 2,400 shares during the last quarter. Hilltop Holdings Inc. bought a new position in shares of HDFC Bank in the third quarter worth about $222,000. Timber Creek Capital Management LLC increased its stake in HDFC Bank by 0.7% in the 3rd quarter. Timber Creek Capital Management LLC now owns 57,168 shares of the bank’s stock worth $3,576,000 after buying an additional 381 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in HDFC Bank by 22.6% during the 3rd quarter. ARGA Investment Management LP now owns 1,405,019 shares of the bank’s stock valued at $87,898,000 after buying an additional 258,598 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

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

HDFC Bank Trading Up 0.4 %

Shares of NYSE HDB opened at $66.73 on Wednesday. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.76. The firm has a market cap of $168.98 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92. The business has a fifty day simple moving average of $63.36 and a two-hundred day simple moving average of $61.75. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. The company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. Analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal 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.