Elliott Investment Management L.P. Purchases 36,491 Shares of HDFC Bank Limited (NYSE:HDB)

Elliott Investment Management L.P. increased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,215 shares of the bank's stock after buying an additional 36,491 shares during the period. HDFC Bank accounts for about 0.3% of Elliott Investment Management L.P.'s investment portfolio, making the stock its 20th biggest position. Elliott Investment Management L.P.'s holdings in HDFC Bank were worth $42,800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in HDFC Bank during the fourth quarter worth approximately $29,000. Graney & King LLC bought a new stake in HDFC Bank during the fourth quarter worth approximately $38,000. Brown Brothers Harriman & Co. increased its stake in HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after acquiring an additional 240 shares during the last quarter. Sierra Ocean LLC bought a new stake in HDFC Bank during the fourth quarter worth approximately $42,000. Finally, Atlas Capital Advisors Inc. bought a new stake in HDFC Bank during the fourth quarter worth approximately $56,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HDB has been the topic of several analyst reports. Nomura Securities raised HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd. Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research note on Monday, May 5th.

HDFC Bank Trading Up 1.5%

Shares of HDB traded up $1.04 during mid-day trading on Friday, reaching $70.54. 2,323,241 shares of the company's stock traded hands, compared to its average volume of 2,817,861. The stock has a market cap 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 stock's 50-day moving average is $66.95 and its two-hundred day moving average is $64.17. HDFC Bank Limited has a 12 month low of $54.99 and a 12 month high of $75.37. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

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, beating analysts' consensus estimates of $0.74 by $0.11. The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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.