Ovata Capital Management Ltd Purchases 326,400 Shares of HDFC Bank Limited (NYSE:HDB)

Ovata Capital Management Ltd grew its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 89.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 690,320 shares of the bank's stock after buying an additional 326,400 shares during the period. HDFC Bank accounts for 16.7% of Ovata Capital Management Ltd's portfolio, making the stock its biggest holding. Ovata Capital Management Ltd's holdings in HDFC Bank were worth $43,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HDB. Whipplewood Advisors LLC purchased a new stake in shares of HDFC Bank during the fourth quarter valued at $29,000. Graney & King LLC acquired a new position in shares of HDFC Bank in the 4th quarter valued at about $38,000. Brown Brothers Harriman & Co. increased its holdings in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after buying an additional 240 shares in the last quarter. Sierra Ocean LLC acquired a new stake in HDFC Bank in the 4th quarter valued at $42,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of HDFC Bank in the fourth quarter worth approximately $56,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 2.3 %

NYSE HDB traded down $1.48 during mid-day trading on Thursday, reaching $64.18. 1,312,494 shares of the stock were exchanged, compared to its average volume of 2,749,949. HDFC Bank Limited has a 1-year low of $54.99 and a 1-year high of $68.50. The business's fifty day simple moving average is $62.15 and its 200 day simple moving average is $62.78. 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 market capitalization of $162.52 billion, a PE ratio of 19.44, a PEG ratio of 2.12 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HDB. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd. 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.