Fmr LLC Buys 914,289 Shares of HDFC Bank Limited (NYSE:HDB)

FMR LLC boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,793,113 shares of the bank's stock after purchasing an additional 914,289 shares during the period. FMR LLC owned about 0.31% of HDFC Bank worth $497,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HDB. Polymer Capital Management HK LTD bought a new stake in shares of HDFC Bank during the fourth quarter valued at approximately $7,637,000. Federated Hermes Inc. boosted its holdings in shares of HDFC Bank by 6.8% during the 4th quarter. Federated Hermes Inc. now owns 51,909 shares of the bank's stock valued at $3,315,000 after buying an additional 3,293 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of HDFC Bank by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 36,759 shares of the bank's stock worth $2,347,000 after acquiring an additional 1,390 shares in the last quarter. Russell Investments Group Ltd. lifted its position in HDFC Bank by 3.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,422,848 shares of the bank's stock valued at $154,754,000 after acquiring an additional 89,478 shares during the period. Finally, Aviva PLC boosted its stake in HDFC Bank by 11.4% during the fourth quarter. Aviva PLC now owns 47,072 shares of the bank's stock worth $3,006,000 after acquiring an additional 4,799 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

HDB has been the topic of several analyst reports. Nomura Securities raised 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 research note on Thursday, January 23rd.

HDFC Bank Stock Performance

HDB traded up $2.19 during trading on Tuesday, hitting $69.57. The company's stock had a trading volume of 1,990,339 shares, compared to its average volume of 2,759,109. HDFC Bank Limited has a one year low of $54.99 and a one year high of $70.11. The business's 50 day simple moving average is $62.49 and its 200-day simple moving average is $62.78. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The firm has a market cap of $176.17 billion, a PE ratio of 21.17, a P/E/G ratio of 2.12 and a beta of 0.68.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results 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 net margin of 14.64% and a return on equity of 12.19%. As a group, sell-side analysts predict 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.