HDFC Bank Limited (NYSE:HDB) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in HDFC Bank Limited (NYSE:HDB) by 23.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,741 shares of the bank’s stock after acquiring an additional 17,823 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HDFC Bank were worth $5,864,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HDB. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of HDFC Bank by 13.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after purchasing an additional 28,500 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of HDFC Bank in the second quarter worth about $166,709,000. US Bancorp DE boosted its stake in shares of HDFC Bank by 38.1% during the 3rd quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock worth $8,750,000 after acquiring an additional 38,571 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in shares of HDFC Bank by 56.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock valued at $8,981,000 after acquiring an additional 50,301 shares during the period. Finally, Comgest Global Investors S.A.S. increased its stake in shares of HDFC Bank by 202.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 432,835 shares of the bank’s stock valued at $27,078,000 after purchasing an additional 289,781 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.4 %

Shares of NYSE HDB opened at $64.50 on Friday. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The company’s 50-day simple moving average is $63.03 and its 200-day simple moving average is $61.17. The firm has a market cap of $163.33 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

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.