Bank Pictet & Cie Europe AG Increases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Bank Pictet & Cie Europe AG raised its holdings in HDFC Bank Limited (NYSE:HDB) by 451.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,490 shares of the bank’s stock after acquiring an additional 15,955 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in HDFC Bank were worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Banque Pictet & Cie SA increased its holdings in shares of HDFC Bank by 144.1% during the fourth quarter. Banque Pictet & Cie SA now owns 59,808 shares of the bank’s stock valued at $3,819,000 after acquiring an additional 35,304 shares in the last quarter. Figure 8 Investment Strategies LLC purchased a new stake in HDFC Bank during the 4th quarter worth approximately $1,413,000. Naples Global Advisors LLC increased its stake in HDFC Bank by 3.4% during the 4th quarter. Naples Global Advisors LLC now owns 27,414 shares of the bank’s stock valued at $1,751,000 after purchasing an additional 905 shares in the last quarter. Channing Global Advisors LLC lifted its stake in shares of HDFC Bank by 20.8% during the fourth quarter. Channing Global Advisors LLC now owns 41,560 shares of the bank’s stock worth $2,654,000 after buying an additional 7,156 shares during the period. Finally, Schwartz Investment Counsel Inc. grew its holdings in shares of HDFC Bank by 3.9% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 50,050 shares of the bank’s stock valued at $3,196,000 after buying an additional 1,900 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.2 %

Shares of HDFC Bank stock 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 debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $152.68 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The firm has a fifty day moving average price of $62.22 and a 200 day moving average price of $62.38.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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%. Equities research analysts predict that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research 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.