Mirae Asset Global Investments Co. Ltd. Purchases 687,811 Shares of HDFC Bank Limited (NYSE:HDB)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 177.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,075,131 shares of the bank's stock after purchasing an additional 687,811 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in HDFC Bank were worth $69,719,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA increased its holdings in shares of HDFC Bank by 3.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank's stock worth $301,000 after buying an additional 167 shares during the last quarter. Commerce Bank increased its stake in HDFC Bank by 7.0% during the third quarter. Commerce Bank now owns 3,427 shares of the bank's stock worth $214,000 after acquiring an additional 225 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock valued at $31,000 after purchasing an additional 254 shares during the period. Mount Yale Investment Advisors LLC lifted its stake in shares of HDFC Bank by 4.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank's stock valued at $399,000 after purchasing an additional 257 shares during the last quarter. Finally, Baron Wealth Management LLC boosted its holdings in shares of HDFC Bank by 3.7% in the 4th quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock worth $470,000 after purchasing an additional 263 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Trading Down 1.2 %

HDB stock traded down $0.73 during midday trading on Friday, reaching $61.22. The company's stock had a trading volume of 1,568,586 shares, compared to its average volume of 2,622,650. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a fifty day simple moving average of $62.76 and a two-hundred day simple moving average of $62.38. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $68.50. The firm has a market capitalization of $155.03 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.70 and a beta of 0.91.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping the consensus estimate 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, equities research analysts predict that HDFC Bank Limited will post 3.09 EPS for the current year.

Wall Street Analyst Weigh In

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