618,458 Shares in HDFC Bank Limited (NYSE:HDB) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 618,458 shares of the bank's stock, valued at approximately $39,495,000.

Other hedge funds have also bought and sold shares of the company. Waverton Investment Management Ltd lifted its holdings in shares of HDFC Bank by 1.0% during the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank's stock valued at $1,275,000 after purchasing an additional 203 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after buying an additional 240 shares in the last quarter. Level Four Advisory Services LLC raised its stake in HDFC Bank by 3.6% during the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock valued at $438,000 after buying an additional 241 shares during the last quarter. Baron Wealth Management LLC boosted its holdings in HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock worth $470,000 after acquiring an additional 263 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in shares of HDFC Bank by 13.0% in the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank's stock worth $147,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded up $1.97 during midday trading on Monday, reaching $74.01. 1,060,658 shares of the company's stock traded hands, compared to its average volume of 2,790,751. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a one year low of $54.99 and a one year high of $75.28. The company has a market cap of $187.42 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.12 and a beta of 0.68. The stock has a 50 day moving average of $63.27 and a 200 day moving average of $63.03.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HDB. Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

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.