M&T Bank Corp Acquires 6,579 Shares of HDFC Bank Limited (NYSE:HDB)

M&T Bank Corp grew its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,058 shares of the bank's stock after acquiring an additional 6,579 shares during the period. M&T Bank Corp's holdings in HDFC Bank were worth $4,474,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in HDFC Bank in the 4th quarter worth about $29,000. Pin Oak Investment Advisors Inc. grew its stake in shares of 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 in the last quarter. Sierra Ocean LLC acquired a new position in HDFC Bank in the fourth quarter worth approximately $42,000. Kestra Investment Management LLC bought a new position in HDFC Bank during the fourth quarter valued at approximately $60,000. Finally, JFS Wealth Advisors LLC lifted its stake in HDFC Bank by 52.6% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,018 shares of the bank's stock valued at $65,000 after acquiring an additional 351 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of NYSE HDB traded up $0.01 during trading hours on Friday, hitting $59.08. 2,790,099 shares of the stock were exchanged, compared to its average volume of 2,617,727. HDFC Bank Limited has a one year low of $54.07 and a one year high of $68.50. The company's 50 day moving average is $60.37 and its 200 day moving average is $62.42. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $149.60 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.12 and a beta of 0.92.

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HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

HDB has been the topic of several analyst reports. StockNews.com lowered shares of 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 raised HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

HDFC Bank 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.