National Bank of Canada FI Grows Stake in HDFC Bank Limited (NYSE:HDB)

National Bank of Canada FI grew its position in HDFC Bank Limited (NYSE:HDB) by 3,535.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,921,668 shares of the bank’s stock after buying an additional 1,868,804 shares during the quarter. National Bank of Canada FI’s holdings in HDFC Bank were worth $122,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HDB. Whipplewood Advisors LLC purchased a new stake in HDFC Bank in the fourth quarter worth about $29,000. Graney & King LLC bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $38,000. Brown Brothers Harriman & Co. increased its holdings in HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after buying an additional 240 shares during the period. Sierra Ocean LLC bought a new position in HDFC Bank in the fourth quarter worth approximately $42,000. Finally, Kestra Investment Management LLC purchased a new stake in HDFC Bank during the fourth quarter worth $60,000. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HDB. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

HDFC Bank Price Performance

NYSE HDB opened at $66.58 on Tuesday. The firm’s fifty day simple moving average is $61.17 and its two-hundred day simple moving average is $62.70. The firm has a market capitalization of $168.60 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.12 and a beta of 0.92. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $68.50.

HDFC Bank (NYSE:HDB) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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%. Analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.