Bank Pictet & Cie Europe AG Grows Stock Position in HDFC Bank Limited (NYSE:HDB)

Bank Pictet & Cie Europe AG lifted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 97.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,579 shares of the bank's stock after purchasing an additional 19,089 shares during the period. Bank Pictet & Cie Europe AG's holdings in HDFC Bank were worth $2,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HDB. Principal Securities Inc. boosted its holdings in HDFC Bank by 13.0% in the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank's stock valued at $147,000 after purchasing an additional 265 shares during the period. JFS Wealth Advisors LLC lifted its holdings in HDFC Bank by 52.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,018 shares of the bank's stock worth $65,000 after buying an additional 351 shares during the last quarter. Sierra Ocean LLC purchased a new stake in HDFC Bank during the 4th quarter worth about $42,000. State of New Jersey Common Pension Fund D lifted its holdings in HDFC Bank by 9.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,048,551 shares of the bank's stock worth $66,960,000 after buying an additional 94,228 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in HDFC Bank by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 48,679 shares of the bank's stock worth $3,109,000 after buying an additional 1,454 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 2.7%

Shares of NYSE HDB opened at $73.82 on Monday. The company has a market capitalization of $186.92 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50-day moving average of $72.50 and a two-hundred day moving average of $65.99. HDFC Bank Limited has a 1 year low of $57.24 and a 1 year high of $77.76.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) 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 12.19% and a net margin of 14.64%. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.

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