Ovata Capital Management Ltd Purchases 326,400 Shares of HDFC Bank Limited (NYSE:HDB)

Ovata Capital Management Ltd raised its position in HDFC Bank Limited (NYSE:HDB) by 89.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 690,320 shares of the bank’s stock after acquiring an additional 326,400 shares during the period. HDFC Bank makes up 16.7% of Ovata Capital Management Ltd’s investment portfolio, making the stock its largest holding. Ovata Capital Management Ltd’s holdings in HDFC Bank were worth $43,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HDB. Thrivent Financial for Lutherans lifted its position in HDFC Bank by 105.1% in the third quarter. Thrivent Financial for Lutherans now owns 6,503 shares of the bank’s stock valued at $407,000 after purchasing an additional 3,333 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of HDFC Bank by 3.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock valued at $301,000 after buying an additional 167 shares during the period. Captrust Financial Advisors boosted its stake in shares of HDFC Bank by 17.4% in the third quarter. Captrust Financial Advisors now owns 43,434 shares of the bank’s stock valued at $2,717,000 after buying an additional 6,443 shares in the last quarter. Verition Fund Management LLC acquired a new position in HDFC Bank during the third quarter worth $997,000. Finally, Hilltop Holdings Inc. acquired a new position in HDFC Bank during the third quarter worth $222,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on HDB. 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 raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of HDB stock opened at $65.12 on Friday. The stock has a fifty day moving average price of $61.70 and a 200 day moving average price of $62.78. 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 stock has a market cap of $164.90 billion, a PE ratio of 19.79, a P/E/G ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a 1 year low of $54.99 and a 1 year high of $68.50.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that HDFC Bank Limited will post 3.03 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.