HDFC Bank Limited (NYSE:HDB) Shares Bought by Ovata Capital Management Ltd

Ovata Capital Management Ltd grew its stake in HDFC Bank Limited (NYSE:HDB) by 89.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 690,320 shares of the bank’s stock after acquiring an additional 326,400 shares during the quarter. HDFC Bank comprises approximately 16.7% of Ovata Capital Management Ltd’s portfolio, making the stock its biggest holding. Ovata Capital Management Ltd’s holdings in HDFC Bank were worth $43,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in HDB. US Bancorp DE lifted its holdings in HDFC Bank by 12.7% in the 4th quarter. US Bancorp DE now owns 157,665 shares of the bank’s stock valued at $10,068,000 after purchasing an additional 17,800 shares in the last quarter. Trinity Street Asset Management LLP lifted its stake in shares of HDFC Bank by 7.4% during the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock valued at $234,641,000 after buying an additional 252,600 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in HDFC Bank during the fourth quarter worth approximately $2,907,000. Nomura Asset Management Co. Ltd. boosted its position in 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 acquiring an additional 119,050 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI grew its stake in HDFC Bank by 34.7% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock worth $8,572,000 after acquiring an additional 35,291 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDFC Bank stock opened at $65.12 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. The company has a market cap of $164.90 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a 1 year low of $54.99 and a 1 year high of $68.50. The firm has a 50 day moving average price of $61.70 and a 200 day moving average price of $62.78.

HDFC Bank (NYSE:HDB) last issued its earnings results 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 return on equity of 12.19% and a net margin of 14.64%. Sell-side analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

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