State of New Jersey Common Pension Fund D Boosts Stock Holdings in HDFC Bank Limited (NYSE:HDB)

State of New Jersey Common Pension Fund D grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,551 shares of the bank’s stock after acquiring an additional 94,228 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in HDFC Bank were worth $66,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of HDB. Trinity Street Asset Management LLP raised its stake in shares of HDFC Bank by 7.4% during the 4th quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock worth $234,641,000 after purchasing an additional 252,600 shares during the period. Citigroup Inc. raised its stake in shares of HDFC Bank by 21.1% during the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock worth $71,559,000 after purchasing an additional 199,582 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of HDFC Bank by 60.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock worth $19,830,000 after purchasing an additional 119,050 shares during the period. Zurich Insurance Group Ltd FI raised its stake in shares of HDFC Bank by 34.7% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock worth $8,572,000 after purchasing an additional 35,291 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after purchasing an additional 28,500 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on HDB. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Trading Up 0.2 %

Shares of HDFC Bank stock opened at $60.29 on Monday. HDFC Bank Limited has a 52-week low of $53.00 and a 52-week high of $68.50. The stock’s 50-day simple moving average is $62.08 and its 200 day simple moving average is $62.40. The stock has a market capitalization of $152.68 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that HDFC Bank Limited will post 3.09 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.