Legal & General Group Plc Acquires Shares of 544,177 HDFC Bank Limited (NYSE:HDB)

Legal & General Group Plc purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 544,177 shares of the bank's stock, valued at approximately $34,746,000.

Several other hedge funds have also added to or reduced their stakes in HDB. Waverton Investment Management Ltd raised its position in shares of HDFC Bank by 1.0% during the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank's stock worth $1,275,000 after acquiring an additional 203 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after purchasing an additional 240 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of HDFC Bank by 3.6% during the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock worth $438,000 after buying an additional 241 shares during the period. Baron Wealth Management LLC boosted its position in HDFC Bank by 3.7% during the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock valued at $470,000 after acquiring an additional 263 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of HDFC Bank by 13.0% in the 4th quarter. Principal Securities Inc. now owns 2,305 shares of the bank's stock worth $147,000 after acquiring an additional 265 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 4.2 %

Shares of HDB traded up $2.93 during trading hours on Thursday, hitting $72.19. The stock had a trading volume of 5,529,678 shares, compared to its average volume of 2,804,948. The firm has a 50 day simple moving average of $62.80 and a 200-day simple moving average of $62.87. HDFC Bank Limited has a 1-year low of $54.99 and a 1-year high of $72.49. 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 $182.80 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68.

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, 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%. Sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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