Banque Pictet & Cie SA Purchases 35,304 Shares of HDFC Bank Limited (NYSE:HDB)

Banque Pictet & Cie SA raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 144.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,808 shares of the bank's stock after buying an additional 35,304 shares during the period. Banque Pictet & Cie SA's holdings in HDFC Bank were worth $3,819,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. increased its stake in HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock valued at $31,000 after buying an additional 254 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its stake in HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in HDFC Bank in the third quarter valued at approximately $65,000. Finally, Brooklyn Investment Group lifted its stake in HDFC Bank by 967.0% in the fourth quarter. Brooklyn Investment Group now owns 1,878 shares of the bank's stock valued at $120,000 after purchasing an additional 1,702 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on HDB. StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Nomura Securities upgraded HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $0.28 during trading on Tuesday, hitting $60.51. 3,420,516 shares of the company were exchanged, compared to its average volume of 2,665,656. The company has a market cap of $153.22 billion, a PE ratio of 18.39, a P/E/G ratio of 1.70 and a beta of 0.91. The stock has a 50 day moving average of $61.93 and a 200 day moving average of $62.41. HDFC Bank Limited has a 52-week low of $53.00 and a 52-week high of $68.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) 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%. As a group, equities research analysts predict that HDFC Bank Limited will post 3.09 EPS for the current year.

HDFC Bank Company Profile

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.