BI Asset Management Fondsmaeglerselskab A S Increases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1,700.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 355,511 shares of the bank's stock after buying an additional 335,762 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in HDFC Bank were worth $22,703,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in HDFC Bank by 15.8% in the 3rd quarter. State Street Corp now owns 513,684 shares of the bank's stock worth $32,136,000 after purchasing an additional 70,071 shares during the period. Virtu Financial LLC bought a new position in shares of HDFC Bank in the third quarter worth about $985,000. Synovus Financial Corp lifted its position in shares of HDFC Bank by 0.8% during the 3rd quarter. Synovus Financial Corp now owns 89,591 shares of the bank's stock valued at $5,605,000 after buying an additional 711 shares in the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of HDFC Bank during the 3rd quarter valued at approximately $353,000. Finally, Franklin Resources Inc. increased its holdings in HDFC Bank by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank's stock worth $420,477,000 after acquiring an additional 560,880 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

HDB traded down $0.25 during trading on Thursday, reaching $72.04. 1,676,062 shares of the company traded hands, compared to its average volume of 2,807,942. The company has a market cap of $182.44 billion, a P/E ratio of 21.90, a PEG ratio of 2.12 and a beta of 0.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $75.37. The firm has a fifty day simple moving average of $64.08 and a 200 day simple moving average of $63.26.

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. On average, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HDB shares. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 23rd.

HDFC Bank Company 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.