Figure 8 Investment Strategies LLC Takes Position in HDFC Bank Limited (NYSE:HDB)

Figure 8 Investment Strategies LLC acquired a new stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,120 shares of the bank's stock, valued at approximately $1,413,000. HDFC Bank makes up approximately 1.4% of Figure 8 Investment Strategies LLC's investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd boosted its holdings in HDFC Bank by 1.6% in the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank's stock worth $523,453,000 after acquiring an additional 132,445 shares in the last quarter. FMR LLC boosted its holdings in HDFC Bank by 19.3% in the third quarter. FMR LLC now owns 6,878,824 shares of the bank's stock worth $430,339,000 after acquiring an additional 1,114,210 shares in the last quarter. Franklin Resources Inc. boosted its holdings in HDFC Bank by 9.0% in the third quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank's stock worth $420,477,000 after acquiring an additional 560,880 shares in the last quarter. Wellington Management Group LLP boosted its holdings in HDFC Bank by 2.2% in the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank's stock worth $317,141,000 after acquiring an additional 108,312 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in HDFC Bank by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank's stock worth $302,970,000 after acquiring an additional 51,736 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded up $0.28 on Tuesday, reaching $60.51. 3,420,521 shares of the stock were exchanged, compared to its average volume of 2,716,923. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a twelve month low of $53.00 and a twelve month high of $68.50. The firm has a market capitalization of $153.22 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.70 and a beta of 0.91. The business has a 50 day moving average price of $61.93 and a two-hundred day moving average price of $62.41.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating 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 anticipate that HDFC Bank Limited will post 3.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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