First Trust Advisors LP lifted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 111.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,109 shares of the bank's stock after purchasing an additional 20,633 shares during the quarter. First Trust Advisors LP's holdings in HDFC Bank were worth $2,498,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE lifted its position in shares of HDFC Bank by 12.7% during the 4th quarter. US Bancorp DE now owns 157,665 shares of the bank's stock valued at $10,068,000 after acquiring an additional 17,800 shares during the period. Trinity Street Asset Management LLP increased its position in shares of HDFC Bank by 7.4% in the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank's stock valued at $234,641,000 after buying an additional 252,600 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of HDFC Bank in the 4th quarter worth about $2,907,000. Ovata Capital Management Ltd increased its holdings in HDFC Bank by 89.7% during the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock valued at $43,863,000 after acquiring an additional 326,400 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in HDFC Bank during the fourth quarter worth about $1,999,000. Institutional investors and hedge funds own 17.61% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on HDB. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd. Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, StockNews.com upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th.
Check Out Our Latest Stock Report on HDFC Bank
HDFC Bank Stock Performance
HDFC Bank stock opened at $73.65 on Monday. The stock has a fifty day moving average price of $65.81 and a 200 day moving average price of $63.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 52 week low of $54.99 and a 52 week high of $75.37. The firm has a market capitalization of $186.50 billion, a P/E ratio of 22.39, a PEG ratio of 2.12 and a beta of 0.68.
HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.
About HDFC Bank
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB - Free Report).
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