595,900 Shares in HDFC Bank Limited (NYSE:HDB) Bought by Carrhae Capital LLP

Carrhae Capital LLP bought a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 595,900 shares of the bank's stock, valued at approximately $39,592,000. HDFC Bank accounts for approximately 2.9% of Carrhae Capital LLP's holdings, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its position in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Graney & King LLC bought a new position in HDFC Bank in the 4th quarter valued at $38,000. Brown Brothers Harriman & Co. raised its position in HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after purchasing an additional 240 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after purchasing an additional 507 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in HDFC Bank in the 1st quarter valued at $55,000. Institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

HDFC Bank Trading Down 1.1%

Shares of HDB stock traded down $0.84 on Friday, reaching $75.30. 2,937,761 shares of the stock were exchanged, compared to its average volume of 2,691,395. The stock has a market cap of $190.68 billion, a PE ratio of 22.82, a P/E/G ratio of 1.87 and a beta of 0.64. HDFC Bank Limited has a one year low of $57.24 and a one year high of $78.14. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.07 and a quick ratio of 0.09. The stock has a 50 day moving average price of $74.95 and a 200 day moving average price of $67.59.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. Equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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.