Canopy Partners LLC Raises Position in HDFC Bank Limited (NYSE:HDB)

Canopy Partners LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,619 shares of the bank’s stock after acquiring an additional 417 shares during the period. Canopy Partners LLC’s holdings in HDFC Bank were worth $359,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HDB. Verition Fund Management LLC purchased a new position in shares of HDFC Bank during the third quarter valued at approximately $997,000. Hilltop Holdings Inc. purchased a new position in HDFC Bank during the third quarter valued at $222,000. HighTower Advisors LLC increased its holdings in HDFC Bank by 2.3% in the 3rd quarter. HighTower Advisors LLC now owns 220,149 shares of the bank’s stock worth $13,784,000 after acquiring an additional 5,025 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in HDFC Bank by 28.4% in the 3rd quarter. Quantinno Capital Management LP now owns 20,990 shares of the bank’s stock worth $1,313,000 after buying an additional 4,638 shares during the period. Finally, Stifel Financial Corp grew its position in shares of HDFC Bank by 14.3% during the third quarter. Stifel Financial Corp now owns 89,712 shares of the bank’s stock worth $5,612,000 after purchasing an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDB opened at $65.12 on Monday. The firm has a market capitalization of $164.90 billion, a PE ratio of 19.79, a P/E/G ratio of 2.12 and a beta of 0.68. The firm has a 50 day moving average of $61.70 and a two-hundred day moving average of $62.78. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $68.50. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS 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%. On average, analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

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

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.