Pictet Asset Management Holding SA Boosts Holdings in HDFC Bank Limited (NYSE:HDB)

Pictet Asset Management Holding SA grew its stake in HDFC Bank Limited (NYSE:HDB) by 516.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 222,929 shares of the bank’s stock after buying an additional 186,749 shares during the quarter. Pictet Asset Management Holding SA’s holdings in HDFC Bank were worth $14,236,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in HDFC Bank in the fourth quarter valued at approximately $29,000. Graney & King LLC purchased a new position in shares of HDFC Bank during the 4th quarter valued at approximately $38,000. Sierra Ocean LLC acquired a new position in shares of HDFC Bank in the 4th quarter valued at $42,000. Kestra Investment Management LLC purchased a new stake in HDFC Bank during the fourth quarter worth $60,000. Finally, JFS Wealth Advisors LLC grew its position in HDFC Bank by 52.6% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,018 shares of the bank’s stock valued at $65,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HDB shares. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $65.24 on Wednesday. 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 firm has a market cap of $165.19 billion, a PE ratio of 19.83, a PEG ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a one year low of $54.99 and a one year high of $68.50. The firm has a fifty day moving average of $61.30 and a 200 day moving average of $62.72.

HDFC Bank (NYSE:HDB) last released its quarterly 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 net margin of 14.64% and a return on equity of 12.19%. As a group, research analysts predict 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.