Franklin Resources Inc. Buys 113,988 Shares of HDFC Bank Limited (NYSE:HDB)

Franklin Resources Inc. increased its position in HDFC Bank Limited (NYSE:HDB) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,917,816 shares of the bank’s stock after acquiring an additional 113,988 shares during the quarter. Franklin Resources Inc. owned about 0.27% of HDFC Bank worth $441,772,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in HDFC Bank by 105.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,503 shares of the bank’s stock valued at $407,000 after purchasing an additional 3,333 shares during the period. Daiwa Securities Group Inc. raised its position in HDFC Bank by 62.6% during the third quarter. Daiwa Securities Group Inc. now owns 3,846 shares of the bank’s stock valued at $241,000 after purchasing an additional 1,481 shares in the last quarter. Bank of Montreal Can lifted its stake in HDFC Bank by 44.0% during the third quarter. Bank of Montreal Can now owns 79,026 shares of the bank’s stock worth $5,085,000 after purchasing an additional 24,159 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of HDFC Bank by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 257,516 shares of the bank’s stock worth $16,110,000 after purchasing an additional 10,256 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of HDFC Bank by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock valued at $301,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Up 0.7 %

HDB opened at $66.58 on Tuesday. HDFC Bank Limited has a 12 month low of $54.99 and a 12 month high of $68.50. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $61.17 and its 200-day moving average price is $62.70. The company has a market cap of $168.60 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current 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.