Polymer Capital Management HK LTD Acquires Shares of 119,596 HDFC Bank Limited (NYSE:HDB)

Polymer Capital Management HK LTD purchased a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 119,596 shares of the bank's stock, valued at approximately $7,637,000. HDFC Bank accounts for 1.3% of Polymer Capital Management HK LTD's holdings, making the stock its 20th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of HDB. Verition Fund Management LLC acquired a new position in shares of HDFC Bank in the third quarter valued at approximately $997,000. Hilltop Holdings Inc. purchased a new stake in shares of HDFC Bank during the third quarter worth $222,000. HighTower Advisors LLC increased its position in shares of HDFC Bank by 2.3% during the third quarter. HighTower Advisors LLC now owns 220,149 shares of the bank's stock worth $13,784,000 after acquiring an additional 5,025 shares during the period. Quantinno Capital Management LP boosted its holdings in HDFC Bank by 28.4% in the third quarter. Quantinno Capital Management LP now owns 20,990 shares of the bank's stock valued at $1,313,000 after purchasing an additional 4,638 shares during the period. Finally, Stifel Financial Corp grew its stake in HDFC Bank by 14.3% during the 3rd quarter. Stifel Financial Corp now owns 89,712 shares of the bank's stock worth $5,612,000 after purchasing an additional 11,200 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HDB shares. Nomura Securities upgraded 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 research note on Thursday, January 23rd.

HDFC Bank Stock Up 2.7 %

NYSE:HDB traded up $1.75 during trading hours on Friday, hitting $66.78. The company's stock had a trading volume of 1,031,573 shares, compared to its average volume of 2,749,895. The stock has a market capitalization of $169.11 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average of $62.25 and a 200-day moving average of $62.77. HDFC Bank Limited has a 52-week low of $54.99 and a 52-week high of $68.50.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping 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, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

HDFC Bank Company 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.