Pzena Investment Management LLC Has $32.55 Million Holdings in HDFC Bank Limited (NYSE:HDB)

Pzena Investment Management LLC raised its position in HDFC Bank Limited (NYSE:HDB) by 64.0% in the fourth quarter, HoldingsChannel reports. The fund owned 509,664 shares of the bank’s stock after purchasing an additional 198,928 shares during the quarter. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $32,547,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its position in HDFC Bank by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after purchasing an additional 167 shares during the last quarter. Waverton Investment Management Ltd boosted its position in HDFC Bank by 1.0% in the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock worth $1,275,000 after purchasing an additional 203 shares during the last quarter. Commerce Bank boosted its position in HDFC Bank by 7.0% in the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after purchasing an additional 225 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares during the last quarter. Finally, Baron Wealth Management LLC boosted its position in HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock worth $470,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $58.85 on Tuesday. 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 Limited has a 52-week low of $54.07 and a 52-week high of $68.50. The firm has a market cap of $149.01 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.12 and a beta of 0.92. The business’s fifty day moving average is $60.26 and its 200 day moving average is $62.44.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share (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%. Research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HDB shares. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note 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.