792,800 Shares in HDFC Bank Limited (NYSE:HDB) Bought by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 792,800 shares of the bank’s stock, valued at approximately $51,001,000. HDFC Bank makes up 9.9% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDB. Frazier Financial Advisors LLC acquired a new position in shares of HDFC Bank during the fourth quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank during the 1st quarter valued at about $34,000. Janiczek Wealth Management LLC bought a new stake in HDFC Bank during the 1st quarter worth approximately $35,000. Ridgewood Investments LLC purchased a new stake in shares of HDFC Bank in the second quarter worth approximately $36,000. Finally, LRI Investments LLC bought a new position in shares of HDFC Bank in the first quarter valued at approximately $56,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded down $0.44 during mid-day trading on Friday, hitting $60.51. 2,784,805 shares of the stock were exchanged, compared to its average volume of 3,118,064. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44. The company has a 50-day simple moving average of $60.83 and a 200 day simple moving average of $58.70. The company has a market capitalization of $112.54 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.62 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. Sell-side analysts anticipate that HDFC Bank Limited will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HDB shares. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

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.