E. Ohman J or Asset Management AB Grows Position in HDFC Bank Limited (NYSE:HDB)

E. Ohman J or Asset Management AB grew its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,600 shares of the bank's stock after buying an additional 9,000 shares during the period. E. Ohman J or Asset Management AB's holdings in HDFC Bank were worth $8,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HDB. abrdn plc increased its position in shares of HDFC Bank by 23.1% during the fourth quarter. abrdn plc now owns 367,484 shares of the bank's stock valued at $23,381,000 after buying an additional 68,857 shares during the period. Mather Group LLC. increased its position in shares of HDFC Bank by 10.7% in the fourth quarter. Mather Group LLC. now owns 3,620 shares of the bank's stock worth $231,000 after purchasing an additional 351 shares during the last quarter. Adero Partners LLC bought a new position in shares of HDFC Bank in the fourth quarter worth approximately $223,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of HDFC Bank by 11.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,149 shares of the bank's stock worth $84,688,000 after purchasing an additional 134,167 shares during the last quarter. Finally, Tobam increased its position in shares of HDFC Bank by 2.2% in the fourth quarter. Tobam now owns 34,411 shares of the bank's stock worth $2,197,000 after purchasing an additional 729 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

HDFC Bank Price Performance

Shares of HDB stock traded up $1.83 during trading on Friday, hitting $77.54. The company had a trading volume of 3,232,738 shares, compared to its average volume of 2,793,459. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock's 50-day moving average is $71.44 and its two-hundred day moving average is $65.64. The stock has a market capitalization of $196.36 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. HDFC Bank Limited has a 52 week low of $57.24 and a 52 week high of $77.76.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 12.19% and a net margin of 14.64%. As a group, analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.