Public Employees Retirement System of Ohio Purchases New Stake in HDFC Bank Limited (NYSE:HDB)

Public Employees Retirement System of Ohio acquired a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 336,087 shares of the bank's stock, valued at approximately $21,026,000.

Several other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in HDFC Bank by 60.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank's stock valued at $19,830,000 after purchasing an additional 119,050 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of HDFC Bank by 37.9% during the 3rd quarter. MML Investors Services LLC now owns 46,266 shares of the bank's stock worth $2,894,000 after buying an additional 12,723 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of HDFC Bank by 17.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 120,353 shares of the bank's stock worth $7,529,000 after buying an additional 18,064 shares during the period. Zurich Insurance Group Ltd FI grew its stake in 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 buying an additional 35,291 shares during the last quarter. Finally, Castleark Management LLC raised its holdings in HDFC Bank by 110.0% in the 3rd quarter. Castleark Management LLC now owns 23,390 shares of the bank's stock valued at $1,463,000 after acquiring an additional 12,250 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th.

HDFC Bank Stock Performance

HDB stock traded down $0.27 during trading hours on Wednesday, hitting $67.42. 2,113,975 shares of the stock were exchanged, compared to its average volume of 3,005,779. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.50. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $170.72 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.79 and a beta of 0.92. The company has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $62.14.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. On average, analysts forecast that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal 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.