Raymond James Financial Inc. Buys Shares of 618,458 HDFC Bank Limited (NYSE:HDB)

Raymond James Financial Inc. purchased a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 618,458 shares of the bank's stock, valued at approximately $39,495,000.

Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its position in shares of HDFC Bank by 10.4% in the fourth quarter. M&T Bank Corp now owns 70,058 shares of the bank's stock valued at $4,474,000 after buying an additional 6,579 shares during the last quarter. Exencial Wealth Advisors LLC raised its holdings in HDFC Bank by 3.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 19,355 shares of the bank's stock valued at $1,236,000 after acquiring an additional 660 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of HDFC Bank during the 4th quarter worth $75,000. Nicola Wealth Management LTD. grew its position in HDFC Bank by 21.6% in the fourth quarter. Nicola Wealth Management LTD. now owns 163,000 shares of the bank's stock worth $10,409,000 after acquiring an additional 29,000 shares during the period. Finally, State of Michigan Retirement System raised its stake in shares of HDFC Bank by 5.0% in the 4th quarter. State of Michigan Retirement System now owns 190,000 shares of the bank's stock valued at $12,133,000 after acquiring an additional 9,000 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HDB has been the subject of several recent research reports. StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Nomura Securities upgraded HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

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HDFC Bank Stock Down 0.6 %

Shares of HDB stock traded down $0.38 during trading hours on Thursday, reaching $60.10. 1,574,710 shares of the stock were exchanged, compared to its average volume of 2,605,042. The business's fifty day moving average is $60.12 and its two-hundred day moving average is $62.42. The firm has a market capitalization of $152.19 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a 12-month low of $54.07 and a 12-month high of $68.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

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, topping the consensus estimate 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, research analysts expect that HDFC Bank Limited will post 3.03 EPS 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.