Martin Currie Ltd. Buys 26,948 Shares of HDFC Bank Limited (NYSE:HDB)

Martin Currie Ltd. raised its stake in HDFC Bank Limited (NYSE:HDB) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,958,274 shares of the bank’s stock after acquiring an additional 26,948 shares during the quarter. HDFC Bank accounts for about 6.9% of Martin Currie Ltd.’s holdings, making the stock its 2nd largest position. Martin Currie Ltd.’s holdings in HDFC Bank were worth $188,915,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. US Bancorp DE raised its stake in shares of HDFC Bank by 12.7% in the fourth quarter. US Bancorp DE now owns 157,665 shares of the bank’s stock valued at $10,068,000 after acquiring an additional 17,800 shares during the last quarter. Trinity Street Asset Management LLP raised its position in HDFC Bank by 7.4% in the 4th quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock valued at $234,641,000 after purchasing an additional 252,600 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in HDFC Bank in the fourth quarter worth $2,907,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of HDFC Bank by 60.1% during 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 stake in shares of 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 buying an additional 35,291 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Down 1.1 %

NYSE HDB opened at $66.15 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a 52 week low of $54.99 and a 52 week high of $68.50. The stock has a market capitalization of $167.50 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The stock has a fifty day moving average of $61.01 and a 200-day moving average of $62.66.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data 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 research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

About HDFC Bank

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.