Ninety One UK Ltd Boosts Stake in HDFC Bank Limited (NYSE:HDB)

Ninety One UK Ltd increased its stake in HDFC Bank Limited (NYSE:HDB) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 850,989 shares of the bank’s stock after purchasing an additional 569 shares during the quarter. Ninety One UK Ltd’s holdings in HDFC Bank were worth $54,344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of HDFC Bank by 2.4% during the 2nd quarter. Cetera Investment Advisers now owns 14,979 shares of the bank’s stock valued at $964,000 after buying an additional 358 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in HDFC Bank during the second quarter valued at approximately $1,803,000. GAMMA Investing LLC boosted its position in shares of HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after purchasing an additional 312 shares during the period. Atomi Financial Group Inc. increased its stake in shares of HDFC Bank by 76.5% in the third quarter. Atomi Financial Group Inc. now owns 13,563 shares of the bank’s stock worth $849,000 after purchasing an additional 5,878 shares in the last quarter. Finally, Genesis Investment Management LLP increased its stake in shares of HDFC Bank by 0.4% in the third quarter. Genesis Investment Management LLP now owns 125,163 shares of the bank’s stock worth $7,830,000 after purchasing an additional 456 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the subject of several recent analyst reports. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Performance

HDB opened at $61.13 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $154.79 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.67 and a beta of 0.91. The company has a fifty day moving average of $63.21 and a 200 day moving average of $62.37. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $68.50.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating 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%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 3.09 earnings per share 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.