Mirae Asset Global Investments Co. Ltd. Has $69.72 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 177.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,075,131 shares of the bank’s stock after purchasing an additional 687,811 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in HDFC Bank were worth $69,719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of HDFC Bank by 2.4% in the second quarter. Cetera Investment Advisers now owns 14,979 shares of the bank’s stock worth $964,000 after acquiring an additional 358 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of HDFC Bank in the second quarter worth approximately $1,803,000. GAMMA Investing LLC lifted its stake in shares of HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after acquiring an additional 312 shares during the period. Atomi Financial Group Inc. lifted its stake in shares of HDFC Bank by 76.5% in the third quarter. Atomi Financial Group Inc. now owns 13,563 shares of the bank’s stock worth $849,000 after acquiring an additional 5,878 shares during the period. Finally, Genesis Investment Management LLP lifted its stake in HDFC Bank by 0.4% in the third quarter. Genesis Investment Management LLP now owns 125,163 shares of the bank’s stock valued at $7,830,000 after buying an additional 456 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HDB. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Trading Up 2.1 %

NYSE HDB opened at $61.13 on Wednesday. The company has a market cap of $154.79 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.67 and a beta of 0.91. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $68.50. The business has a 50 day moving average price of $63.21 and a 200-day moving average price of $62.37. 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 quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS 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, equities analysts expect that HDFC Bank Limited will post 3.09 earnings per share for the current fiscal year.

HDFC Bank 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.