Letko Brosseau & Associates Inc. Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

Letko Brosseau & Associates Inc. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,100 shares of the bank's stock after buying an additional 8,800 shares during the quarter. Letko Brosseau & Associates Inc.'s holdings in HDFC Bank were worth $3,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Waverton Investment Management Ltd raised its holdings in shares of HDFC Bank by 1.0% during the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank's stock worth $1,275,000 after acquiring an additional 203 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after purchasing an additional 240 shares during the period. Level Four Advisory Services LLC increased its position in HDFC Bank by 3.6% during the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock worth $438,000 after purchasing an additional 241 shares during the last quarter. Baron Wealth Management LLC raised its stake in HDFC Bank by 3.7% during the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock worth $470,000 after purchasing an additional 263 shares during the period. Finally, Principal Securities Inc. lifted its holdings in HDFC Bank by 13.0% in the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank's stock valued at $147,000 after acquiring an additional 265 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 2.1%

Shares of HDFC Bank stock traded up $1.51 during trading on Thursday, hitting $73.17. 2,586,784 shares of the stock were exchanged, compared to its average volume of 2,820,753. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The firm's 50-day moving average price is $67.72 and its 200 day moving average price is $64.34. The stock has a market cap of $185.29 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.63. HDFC Bank Limited has a 12-month low of $55.00 and a 12-month high of $75.37.

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

Analyst Upgrades and Downgrades

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

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.