Pictet Asset Management Holding SA Has $14.24 Million Stake in HDFC Bank Limited (NYSE:HDB)

Pictet Asset Management Holding SA lifted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 516.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 222,929 shares of the bank's stock after purchasing an additional 186,749 shares during the quarter. Pictet Asset Management Holding SA's holdings in HDFC Bank were worth $14,236,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. US Bancorp DE increased its holdings in HDFC Bank by 12.7% in the 4th quarter. US Bancorp DE now owns 157,665 shares of the bank's stock valued at $10,068,000 after buying an additional 17,800 shares during the period. Trinity Street Asset Management LLP increased its stake in HDFC Bank by 7.4% in the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank's stock valued at $234,641,000 after acquiring an additional 252,600 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in HDFC Bank during the fourth quarter valued at approximately $2,907,000. Nomura Asset Management Co. Ltd. lifted its stake in HDFC Bank by 60.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank's stock worth $19,830,000 after purchasing an additional 119,050 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its holdings in shares of HDFC Bank by 34.7% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank's stock valued at $8,572,000 after purchasing an additional 35,291 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of NYSE HDB traded down $1.84 during midday trading on Friday, reaching $65.12. 8,211,680 shares of the company were exchanged, compared to its average volume of 2,735,820. The stock's 50-day moving average price is $61.70 and its 200-day moving average price is $62.78. The stock has a market cap of $164.90 billion, a P/E ratio of 19.79, a PEG ratio of 2.12 and a beta of 0.68. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a one year low of $54.99 and a one year high of $68.50.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HDB has been the subject of several recent analyst reports. Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 23rd.

About HDFC Bank

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.