Massachusetts Financial Services Co. MA Has $300.43 Million Position in HDFC Bank Limited (NYSE:HDB)

Massachusetts Financial Services Co. MA cut its stake in shares of HDFC Bank Limited (NYSE:HDB) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,704,454 shares of the bank’s stock after selling 138,416 shares during the period. Massachusetts Financial Services Co. MA’s holdings in HDFC Bank were worth $300,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its stake in shares of HDFC Bank by 3,535.1% in the fourth quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank’s stock worth $122,718,000 after acquiring an additional 1,868,804 shares during the last quarter. Franklin Resources Inc. increased its position in HDFC Bank by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 6,917,816 shares of the bank’s stock worth $441,772,000 after purchasing an additional 113,988 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in HDFC Bank by 0.8% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 245,653 shares of the bank’s stock worth $15,694,000 after purchasing an additional 1,881 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of HDFC Bank by 6.9% during the 4th quarter. Alliancebernstein L.P. now owns 133,627 shares of the bank’s stock valued at $8,533,000 after buying an additional 8,663 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in shares of HDFC Bank in the 4th quarter valued at approximately $460,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Up 1.4 %

HDB opened at $66.14 on Thursday. The firm has a market cap of $167.49 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. 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 business has a 50 day moving average price of $61.41 and a 200 day moving average price of $62.74. HDFC Bank Limited has a twelve month low of $54.99 and a twelve month high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Research analysts forecast 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.