GAMMA Investing LLC Buys 156,620 Shares of HDFC Bank Limited (NYSE:HDB)

GAMMA Investing LLC lifted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 6,998.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,858 shares of the bank's stock after buying an additional 156,620 shares during the period. GAMMA Investing LLC's holdings in HDFC Bank were worth $105,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. GQG Partners LLC lifted its position in HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after purchasing an additional 3,364,114 shares in the last quarter. Schroder Investment Management Group lifted its position in HDFC Bank by 82.1% during the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after purchasing an additional 3,160,533 shares in the last quarter. FIL Ltd lifted its position in HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after purchasing an additional 2,599,337 shares in the last quarter. Royal Bank of Canada lifted its position in shares of HDFC Bank by 43.0% in the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after acquiring an additional 2,196,315 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of HDFC Bank by 3,535.1% in the fourth quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank's stock valued at $122,718,000 after acquiring an additional 1,868,804 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of HDB stock traded up $0.75 during trading hours on Thursday, hitting $75.83. The stock had a trading volume of 654,296 shares, compared to its average volume of 2,792,816. HDFC Bank Limited has a one year low of $57.17 and a one year high of $75.96. 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 stock's 50-day moving average price is $71.01 and its two-hundred day moving average price is $65.45. The stock has a market capitalization of $192.01 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.12 and a beta of 0.63.

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. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $434.68 billion. Equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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.