Pinebridge Investments L.P. Buys 150,000 Shares of HDFC Bank Limited (NYSE:HDB)

Pinebridge Investments L.P. boosted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 49.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 451,685 shares of the bank's stock after acquiring an additional 150,000 shares during the quarter. Pinebridge Investments L.P.'s holdings in HDFC Bank were worth $28,845,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages have weighed in on HDB. StockNews.com upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Thursday. Nomura raised shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Performance

HDFC Bank stock traded down $0.42 during mid-day trading on Monday, reaching $71.75. The company's stock had a trading volume of 674,198 shares, compared to its average volume of 2,824,400. The firm's fifty day moving average price is $64.54 and its two-hundred day moving average price is $63.48. 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 company has a market capitalization of $181.70 billion, a P/E ratio of 21.78, a PEG ratio of 2.12 and a beta of 0.68.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. Sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.