Myriad Asset Management US LP Buys Shares of 49,580 HDFC Bank Limited (NYSE:HDB)

Myriad Asset Management US LP bought a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 49,580 shares of the bank's stock, valued at approximately $3,294,000. HDFC Bank comprises 1.4% of Myriad Asset Management US LP's investment portfolio, making the stock its 11th largest position.

A number of other large investors have also recently made changes to their positions in HDB. GQG Partners LLC increased its holdings in shares of HDFC Bank by 74.4% in the 4th quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after acquiring an additional 3,364,114 shares during the period. Schroder Investment Management Group boosted its stake in HDFC Bank by 82.1% during the 4th quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock worth $447,584,000 after purchasing an additional 3,160,533 shares during the period. FIL Ltd grew its position in HDFC Bank by 17.5% during the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock worth $1,115,451,000 after purchasing an additional 2,599,337 shares during the last quarter. Royal Bank of Canada increased its stake in 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 purchasing an additional 2,196,315 shares during the period. Finally, National Bank of Canada FI raised its holdings 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 buying an additional 1,868,804 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded up $0.63 during trading hours on Thursday, hitting $75.71. 1,801,295 shares of the company were exchanged, compared to its average volume of 2,797,281. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average of $71.01 and a 200-day moving average of $65.45. HDFC Bank Limited has a 1 year low of $57.17 and a 1 year high of $75.96. The stock has a market capitalization of $191.72 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.12 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, analysts expect that HDFC Bank Limited will post 3.03 EPS 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.

HDFC Bank Profile

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.