Nomura Asset Management Co. Ltd. Buys 2,070 Shares of HDFC Bank Limited (NYSE:HDB)

Nomura Asset Management Co. Ltd. raised its stake in HDFC Bank Limited (NYSE:HDB) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,044 shares of the bank’s stock after buying an additional 2,070 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in HDFC Bank were worth $20,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in HDFC Bank by 105.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,503 shares of the bank’s stock worth $407,000 after acquiring an additional 3,333 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of HDFC Bank by 53.4% during the third quarter. Cerity Partners LLC now owns 64,710 shares of the bank’s stock valued at $4,048,000 after purchasing an additional 22,523 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of HDFC Bank by 62.6% in the third quarter. Daiwa Securities Group Inc. now owns 3,846 shares of the bank’s stock valued at $241,000 after buying an additional 1,481 shares during the period. Bank of Montreal Can raised its holdings in HDFC Bank by 44.0% in the 3rd quarter. Bank of Montreal Can now owns 79,026 shares of the bank’s stock valued at $5,085,000 after buying an additional 24,159 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in HDFC Bank by 4.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 257,516 shares of the bank’s stock worth $16,110,000 after buying an additional 10,256 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB stock opened at $66.15 on Friday. The stock has a market capitalization of $167.50 billion, a PE ratio of 20.10, a PEG ratio of 2.12 and a beta of 0.92. The business’s 50 day simple moving average is $61.01 and its 200 day simple moving average is $62.66. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. HDFC Bank Limited has a one year low of $54.99 and a one year high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

HDB has been the subject of several recent research reports. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

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.