Pinpoint Asset Management Ltd Buys 66,606 Shares of HDFC Bank Limited (NYSE:HDB)

Pinpoint Asset Management Ltd increased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 119.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,456 shares of the bank's stock after acquiring an additional 66,606 shares during the quarter. HDFC Bank comprises about 1.4% of Pinpoint Asset Management Ltd's holdings, making the stock its 17th biggest holding. Pinpoint Asset Management Ltd's holdings in HDFC Bank were worth $7,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Temasek Holdings Private Ltd lifted its position in HDFC Bank by 1.6% during the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank's stock valued at $523,453,000 after purchasing an additional 132,445 shares during the last quarter. GQG Partners LLC grew its position in HDFC Bank by 74.4% in the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock worth $503,431,000 after acquiring an additional 3,364,114 shares in the last quarter. Schroder Investment Management Group increased its stake in HDFC Bank by 82.1% in the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after acquiring an additional 3,160,533 shares during the last quarter. Franklin Resources Inc. raised its position in HDFC Bank by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 6,917,816 shares of the bank's stock valued at $441,772,000 after purchasing an additional 113,988 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in HDFC Bank by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank's stock worth $317,141,000 after buying an additional 108,312 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 1.8 %

Shares of HDFC Bank stock traded down $1.13 on Wednesday, hitting $62.68. The stock had a trading volume of 1,575,306 shares, compared to its average volume of 2,745,713. The stock's 50-day simple moving average is $61.95 and its two-hundred day simple moving average is $62.76. HDFC Bank Limited has a one year low of $54.99 and a one year high of $68.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a market cap of $158.72 billion, a price-to-earnings ratio of 19.01, a PEG 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 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%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Nomura upgraded HDFC Bank from a "neutral" rating to a "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.