Bessemer Group Inc. Buys 27,304 Shares of HDFC Bank Limited (NYSE:HDB)

Bessemer Group Inc. raised its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 586,535 shares of the bank's stock after buying an additional 27,304 shares during the period. Bessemer Group Inc.'s holdings in HDFC Bank were worth $38,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management grew its position in shares of HDFC Bank by 771.0% during the 1st quarter. Spire Wealth Management now owns 3,989 shares of the bank's stock valued at $265,000 after acquiring an additional 3,531 shares during the period. Figure 8 Investment Strategies LLC lifted its position in HDFC Bank by 5.7% during the first quarter. Figure 8 Investment Strategies LLC now owns 23,375 shares of the bank's stock valued at $1,553,000 after purchasing an additional 1,255 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in HDFC Bank by 4.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 233,224 shares of the bank's stock valued at $15,495,000 after purchasing an additional 9,069 shares in the last quarter. Channing Global Advisors LLC grew its holdings in HDFC Bank by 101.8% during the first quarter. Channing Global Advisors LLC now owns 83,886 shares of the bank's stock valued at $5,573,000 after purchasing an additional 42,326 shares during the period. Finally, Deltec Asset Management LLC increased its position in HDFC Bank by 6.0% in the first quarter. Deltec Asset Management LLC now owns 26,600 shares of the bank's stock worth $1,767,000 after buying an additional 1,500 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of NYSE HDB traded up $1.09 during midday trading on Thursday, reaching $77.05. The stock had a trading volume of 3,896,745 shares, compared to its average volume of 2,783,569. The company has a market capitalization of $195.11 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $78.11. The stock has a 50-day moving average of $73.80 and a 200-day moving average of $66.43. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.07.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. As a group, research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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.