JARISLOWSKY FRASER Ltd Grows Stake in HDFC Bank Limited (NYSE:HDB)

JARISLOWSKY FRASER Ltd increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,698,012 shares of the bank’s stock after acquiring an additional 40,080 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in HDFC Bank were worth $108,435,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HDB. Waverton Investment Management Ltd lifted its position in shares of HDFC Bank by 1.0% during the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock worth $1,275,000 after buying an additional 203 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after acquiring an additional 240 shares during the last quarter. Level Four Advisory Services LLC lifted its position in HDFC Bank by 3.6% in the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank’s stock valued at $438,000 after acquiring an additional 241 shares during the last quarter. Baron Wealth Management LLC boosted its stake in HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock valued at $470,000 after acquiring an additional 263 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of HDFC Bank by 13.0% during the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank’s stock worth $147,000 after purchasing an additional 265 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on HDB shares. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

NYSE HDB opened at $70.54 on Friday. The firm has a market cap of $178.63 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.12 and a beta of 0.63. HDFC Bank Limited has a 52-week low of $54.99 and a 52-week high of $75.37. The business’s 50-day moving average price is $66.95 and its 200 day moving average price is $64.17. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $434.68 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 earnings per share 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.