Maverick Capital Ltd. Makes New $6.49 Million Investment in HDFC Bank Limited (NYSE:HDB)

Maverick Capital Ltd. acquired a new position in HDFC Bank Limited (NYSE:HDB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 103,761 shares of the bank’s stock, valued at approximately $6,491,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HDB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in HDFC Bank by 2,092.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock valued at $213,851,000 after acquiring an additional 3,262,442 shares during the period. Manning & Napier Advisors LLC bought a new position in HDFC Bank during the 2nd quarter valued at approximately $166,709,000. PineStone Asset Management Inc. raised its stake in HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after buying an additional 2,391,343 shares during the last quarter. TPG GP A LLC bought a new stake in HDFC Bank in the second quarter worth $95,637,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of HDFC Bank by 130.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock worth $140,593,000 after acquiring an additional 1,236,100 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $66.79 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $169.13 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.79 and a beta of 0.91. The firm’s 50 day simple moving average is $63.34 and its 200-day simple moving average is $61.53. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.76.

HDFC Bank (NYSE:HDB) last issued 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 business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, equities analysts predict that HDFC Bank Limited will post 3.15 EPS for the current 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.