Legal & General Group Plc Purchases Shares of 544,177 HDFC Bank Limited (NYSE:HDB)

Legal & General Group Plc acquired a new position in HDFC Bank Limited (NYSE:HDB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 544,177 shares of the bank’s stock, valued at approximately $34,746,000.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in HDFC Bank during the 4th quarter valued at $29,000. Graney & King LLC bought a new stake in shares of HDFC Bank in the 4th quarter worth approximately $38,000. Brown Brothers Harriman & Co. grew its holdings in shares of HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock worth $39,000 after purchasing an additional 240 shares in the last quarter. Sierra Ocean LLC bought a new stake in HDFC Bank in the 4th quarter valued at $42,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of HDFC Bank during the 4th quarter worth about $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 3.5 %

HDB opened at $67.34 on Friday. The firm has a market cap of $170.52 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.12 and a beta of 0.68. 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 firm’s 50-day simple moving average is $62.38 and its 200-day simple moving average is $62.78. HDFC Bank Limited has a twelve month low of $54.99 and a twelve month high of $68.50.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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%. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.