National Bank of Canada FI Acquires 1,868,804 Shares of HDFC Bank Limited (NYSE:HDB)

National Bank of Canada FI boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 3,535.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,921,668 shares of the bank’s stock after purchasing an additional 1,868,804 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of HDFC Bank worth $122,718,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE boosted its position in shares of HDFC Bank by 12.7% during the fourth quarter. US Bancorp DE now owns 157,665 shares of the bank’s stock worth $10,068,000 after acquiring an additional 17,800 shares during the last quarter. Trinity Street Asset Management LLP lifted its stake in HDFC Bank by 7.4% in 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of HDFC Bank during the 4th quarter valued at about $2,907,000. Nomura Asset Management Co. Ltd. grew its position in shares of HDFC Bank by 60.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock valued at $19,830,000 after purchasing an additional 119,050 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI increased its holdings in shares of HDFC Bank by 34.7% in the third 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 last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of research reports. Nomura Securities raised 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 Stock Up 0.7 %

Shares of NYSE HDB opened at $66.58 on Tuesday. The stock has a market capitalization of $168.60 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $68.50. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $61.17 and its 200-day moving average price is $62.70.

HDFC Bank (NYSE:HDB) last announced its 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 net margin of 14.64% and a return on equity of 12.19%. On average, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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.