Bank of America Corp DE Buys 1,368,365 Shares of HDFC Bank Limited (NYSE:HDB)

Bank of America Corp DE grew its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,373,404 shares of the bank's stock after purchasing an additional 1,368,365 shares during the quarter. Bank of America Corp DE owned about 0.25% of HDFC Bank worth $407,006,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in HDB. Northern Trust Corp lifted its position in shares of HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after buying an additional 347,488 shares during the period. US Bancorp DE increased its position in HDFC Bank by 12.7% in the fourth quarter. US Bancorp DE now owns 157,665 shares of the bank's stock worth $10,068,000 after purchasing an additional 17,800 shares during the period. Trinity Street Asset Management LLP raised its stake in shares of HDFC Bank by 7.4% during the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank's stock worth $234,641,000 after buying an additional 252,600 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of HDFC Bank in the 4th quarter valued at $2,907,000. Finally, Ovata Capital Management Ltd boosted its holdings in HDFC Bank by 89.7% during the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after buying an additional 326,400 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on HDB shares. Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd. Finally, StockNews.com cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Monday, May 5th.

HDFC Bank Stock Performance

Shares of NYSE HDB traded up $1.04 during mid-day trading on Friday, reaching $70.54. 2,323,241 shares of the company were exchanged, compared to its average volume of 2,817,861. The stock has a market capitalization of $178.63 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.12 and a beta of 0.63. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a twelve month low of $54.99 and a twelve month high of $75.37. The company's 50-day simple moving average is $66.95 and its 200-day simple moving average is $64.17.

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

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.