HDFC Bank Limited (NYSE:HDB) Shares Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA raised its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 89.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,201 shares of the bank's stock after buying an additional 53,393 shares during the quarter. Banque Pictet & Cie SA's holdings in HDFC Bank were worth $7,521,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp lifted its position in shares of HDFC Bank by 52.0% during the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after buying an additional 347,488 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of HDFC Bank during the fourth quarter valued at about $580,000. Ovata Capital Management Ltd raised its position in shares of HDFC Bank by 89.7% in the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock valued at $43,863,000 after purchasing an additional 326,400 shares during the last quarter. Summit Global Investments raised its position in shares of HDFC Bank by 46.8% in the 4th quarter. Summit Global Investments now owns 13,199 shares of the bank's stock valued at $843,000 after purchasing an additional 4,210 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of HDFC Bank by 111.7% in the 4th quarter. First Trust Advisors LP now owns 39,109 shares of the bank's stock valued at $2,498,000 after purchasing an additional 20,633 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

NYSE:HDB traded down $0.19 during midday trading on Thursday, hitting $76.68. The company's stock had a trading volume of 1,117,471 shares, compared to its average volume of 2,712,408. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $78.14. The firm's 50 day moving average is $74.55 and its 200-day moving average is $67.14. 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 firm has a market cap of $194.17 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.85 and a beta of 0.64.

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

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research 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.