Alliancebernstein L.P. Purchases 8,663 Shares of HDFC Bank Limited (NYSE:HDB)

Alliancebernstein L.P. boosted its position in HDFC Bank Limited (NYSE:HDB) by 6.9% in the fourth quarter, HoldingsChannel reports. The firm owned 133,627 shares of the bank’s stock after buying an additional 8,663 shares during the quarter. Alliancebernstein L.P.’s holdings in HDFC Bank were worth $8,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in shares of HDFC Bank in the fourth quarter valued at approximately $29,000. Graney & King LLC purchased a new position in HDFC Bank in the fourth quarter worth $38,000. Brown Brothers Harriman & Co. grew its stake in HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after purchasing an additional 240 shares during the period. Sierra Ocean LLC purchased a new stake in shares of HDFC Bank during the 4th quarter valued at $42,000. Finally, Kestra Investment Management LLC bought a new stake in shares of HDFC Bank during the 4th quarter worth $60,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HDB shares. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of HDB opened at $64.80 on Friday. HDFC Bank Limited has a 1 year low of $54.99 and a 1 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 stock’s fifty day moving average price is $62.25 and its two-hundred day moving average price is $62.77. The firm has a market cap of $164.08 billion, a PE ratio of 19.69, a PEG ratio of 2.12 and a beta of 0.68.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share (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, equities 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.