Pinpoint Asset Management Ltd Has $7.82 Million Position in HDFC Bank Limited (NYSE:HDB)

Pinpoint Asset Management Ltd raised its position in HDFC Bank Limited (NYSE:HDB) by 119.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,456 shares of the bank’s stock after purchasing an additional 66,606 shares during the quarter. HDFC Bank accounts for about 1.4% of Pinpoint Asset Management Ltd’s holdings, making the stock its 17th biggest holding. Pinpoint Asset Management Ltd’s holdings in HDFC Bank were worth $7,820,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HDB. US Bancorp DE boosted its position in HDFC Bank by 12.7% during the 4th quarter. US Bancorp DE now owns 157,665 shares of the bank’s stock worth $10,068,000 after buying an additional 17,800 shares during the period. Trinity Street Asset Management LLP raised its stake in shares of HDFC Bank by 7.4% during 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 acquiring an additional 252,600 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of HDFC Bank during the fourth quarter worth $2,907,000. Nomura Asset Management Co. Ltd. grew its stake in shares of HDFC Bank by 60.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock worth $19,830,000 after purchasing an additional 119,050 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI increased its holdings in HDFC Bank by 34.7% in the third quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock valued at $8,572,000 after purchasing an additional 35,291 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

NYSE:HDB opened at $66.95 on Friday. The company has a fifty day moving average of $61.57 and a 200-day moving average of $62.77. The firm has a market capitalization of $169.53 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.12 and a beta of 0.92. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a twelve month low of $54.99 and a twelve month high of $68.50.

HDFC Bank (NYSE:HDB) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate 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 anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of analyst reports. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a 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.