Zurich Insurance Group Ltd FI Raises Stake in HDFC Bank Limited (NYSE:HDB)

Zurich Insurance Group Ltd FI boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 34.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,015 shares of the bank’s stock after buying an additional 35,291 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in HDFC Bank were worth $8,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. raised its holdings in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in HDFC Bank during the 2nd quarter worth about $36,000. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank during the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC lifted its holdings in shares of HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after buying an additional 275 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after buying an additional 324 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Stock Down 0.6 %

HDB stock opened at $67.31 on Friday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $68.41. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm’s fifty day moving average is $63.48 and its 200 day moving average is $61.95. The firm has a market cap of $170.45 billion, a PE ratio of 20.46, a P/E/G ratio of 1.80 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. On average, research analysts forecast that HDFC Bank Limited will post 3.15 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.