Tobam Raises Stake in HDFC Bank Limited (NYSE:HDB)

Tobam raised its stake in HDFC Bank Limited (NYSE:HDB) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 34,411 shares of the bank’s stock after acquiring an additional 729 shares during the period. Tobam’s holdings in HDFC Bank were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HDB. Sumitomo Mitsui Trust Group Inc. grew its holdings in HDFC Bank by 11.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,149 shares of the bank’s stock worth $84,688,000 after acquiring an additional 134,167 shares during the period. Adero Partners LLC purchased a new position in HDFC Bank during the 4th quarter valued at about $223,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of HDFC Bank by 177.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075,131 shares of the bank’s stock valued at $69,719,000 after purchasing an additional 687,811 shares in the last quarter. ARGA Investment Management LP lifted its holdings in shares of HDFC Bank by 3.2% in the fourth quarter. ARGA Investment Management LP now owns 1,449,813 shares of the bank’s stock valued at $92,585,000 after purchasing an additional 44,794 shares in the last quarter. Finally, Ninety One North America Inc. grew its position in shares of HDFC Bank by 13.9% in the fourth quarter. Ninety One North America Inc. now owns 63,976 shares of the bank’s stock valued at $4,086,000 after purchasing an additional 7,818 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.5 %

HDB stock opened at $61.90 on Friday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $68.50. The stock has a market capitalization of $156.74 billion, a P/E ratio of 18.81, a PEG ratio of 1.67 and a beta of 0.91. The company has a 50 day moving average price of $62.98 and a two-hundred day moving average price of $62.38. 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 released its earnings results 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, sell-side analysts expect that HDFC Bank Limited will post 3.09 EPS for the current year.

Analysts Set New Price Targets

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

About HDFC Bank

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.