PineStone Asset Management Inc. Grows Stock Position in HDFC Bank Limited (NYSE:HDB)

PineStone Asset Management Inc. increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,243,349 shares of the bank’s stock after purchasing an additional 288,700 shares during the quarter. HDFC Bank makes up approximately 1.9% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 20th largest position. PineStone Asset Management Inc.’s holdings in HDFC Bank were worth $207,120,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG grew its holdings in shares of HDFC Bank by 451.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank’s stock worth $1,245,000 after buying an additional 15,955 shares in the last quarter. Banque Pictet & Cie SA boosted its position in HDFC Bank by 144.1% during the fourth quarter. Banque Pictet & Cie SA now owns 59,808 shares of the bank’s stock worth $3,819,000 after acquiring an additional 35,304 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new stake in HDFC Bank during the 4th quarter valued at about $1,413,000. Naples Global Advisors LLC raised its holdings in HDFC Bank by 3.4% in the 4th quarter. Naples Global Advisors LLC now owns 27,414 shares of the bank’s stock valued at $1,751,000 after acquiring an additional 905 shares during the last quarter. Finally, Channing Global Advisors LLC lifted its stake in HDFC Bank by 20.8% in the 4th quarter. Channing Global Advisors LLC now owns 41,560 shares of the bank’s stock worth $2,654,000 after purchasing an additional 7,156 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.2 %

Shares of NYSE HDB opened at $60.29 on Friday. HDFC Bank Limited has a 1 year low of $53.00 and a 1 year high of $68.50. The company has a market capitalization of $152.68 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.70 and a beta of 0.91. The company has a 50 day simple moving average of $62.22 and a 200-day simple moving average of $62.38. 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 (NYSE:HDB) last posted its earnings results 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 return on equity of 12.19% and a net margin of 14.64%. On average, equities research analysts predict that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of analyst reports. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.