Franklin Resources Inc. Grows Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Franklin Resources Inc. raised its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,917,816 shares of the bank's stock after acquiring an additional 113,988 shares during the quarter. Franklin Resources Inc. owned approximately 0.27% of HDFC Bank worth $441,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd boosted its stake in shares of HDFC Bank by 1.6% during the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank's stock valued at $523,453,000 after acquiring an additional 132,445 shares during the last quarter. GQG Partners LLC lifted its holdings in HDFC Bank by 74.4% in the 4th quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after purchasing an additional 3,364,114 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of HDFC Bank by 82.1% during the 4th quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock worth $447,584,000 after purchasing an additional 3,160,533 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank's stock worth $317,141,000 after buying an additional 108,312 shares in the last quarter. Finally, Trinity Street Asset Management LLP raised its position in shares of HDFC Bank by 7.4% in the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank's stock valued at $234,641,000 after buying an additional 252,600 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on HDB shares. Nomura raised shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd.

HDFC Bank Trading Down 2.8 %

Shares of HDB traded down $1.84 during mid-day trading on Friday, hitting $65.12. The company had a trading volume of 8,211,680 shares, compared to its average volume of 2,735,820. HDFC Bank Limited has a 1-year low of $54.99 and a 1-year high of $68.50. The business's 50-day simple moving average is $61.70 and its 200-day simple moving average is $62.78. The stock has a market cap of $164.90 billion, a PE ratio of 19.79, a P/E/G ratio of 2.12 and a beta of 0.92. 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 (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping 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%. Sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current 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.