KLP Kapitalforvaltning AS Purchases New Stake in HDFC Bank Limited (NYSE:HDB)

KLP Kapitalforvaltning AS purchased a new stake in HDFC Bank Limited (NYSE:HDB) in the 4th quarter, HoldingsChannel reports. The fund purchased 239,600 shares of the bank’s stock, valued at approximately $15,301,000.

Several other hedge funds have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in HDFC Bank by 2,092.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock worth $213,851,000 after acquiring an additional 3,262,442 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in HDFC Bank by 172.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,380,979 shares of the bank’s stock worth $215,909,000 after acquiring an additional 2,140,591 shares during the last quarter. Egerton Capital UK LLP purchased a new position in HDFC Bank during the 4th quarter worth $72,833,000. FMR LLC boosted its holdings in HDFC Bank by 19.3% during the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after acquiring an additional 1,114,210 shares during the last quarter. Finally, DJE Kapital AG purchased a new position in HDFC Bank during the 4th quarter worth $54,055,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Trading Up 1.3 %

NYSE HDB opened at $64.54 on Monday. The stock has a market capitalization of $163.42 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a one year low of $54.07 and a one year high of $68.50. 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 business’s fifty day moving average is $60.26 and its 200-day moving average is $62.49.

HDFC Bank (NYSE:HDB) last released its 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%. Equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

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.