GQG Partners LLC Acquires 3,364,114 Shares of HDFC Bank Limited (NYSE:HDB)

GQG Partners LLC boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 74.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,883,347 shares of the bank’s stock after buying an additional 3,364,114 shares during the quarter. GQG Partners LLC’s holdings in HDFC Bank were worth $503,431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of HDB. Glenmede Trust Co. NA boosted its stake in shares of HDFC Bank by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after acquiring an additional 167 shares during the period. Waverton Investment Management Ltd lifted its holdings in HDFC Bank by 1.0% during the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock valued at $1,275,000 after purchasing an additional 203 shares during the last quarter. Commerce Bank boosted its position in HDFC Bank by 7.0% during the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after purchasing an additional 225 shares during the period. Pin Oak Investment Advisors Inc. increased its holdings in shares of HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. Finally, Baron Wealth Management LLC raised its position in shares of HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock valued at $470,000 after purchasing an additional 263 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on HDB. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Price Performance

NYSE:HDB opened at $65.81 on Tuesday. HDFC Bank Limited has a 52 week low of $54.07 and a 52 week high of $68.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The firm’s 50-day simple moving average is $60.41 and its 200 day simple moving average is $62.52. The firm has a market cap of $166.66 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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.