State of New Jersey Common Pension Fund D Buys 94,228 Shares of HDFC Bank Limited (NYSE:HDB)

State of New Jersey Common Pension Fund D lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,048,551 shares of the bank's stock after purchasing an additional 94,228 shares during the period. State of New Jersey Common Pension Fund D's holdings in HDFC Bank were worth $66,960,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HDB. Pin Oak Investment Advisors Inc. raised its stake in shares of HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock worth $31,000 after purchasing an additional 254 shares during the period. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank during the third quarter valued at about $38,000. JFS Wealth Advisors LLC lifted its holdings in HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Sierra Ocean LLC purchased a new stake in HDFC Bank during the fourth quarter valued at about $42,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in HDFC Bank during the third quarter valued at about $65,000. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Nomura raised shares of HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th.

HDFC Bank Price Performance

Shares of HDB traded down $1.14 during midday trading on Thursday, hitting $59.62. 1,603,618 shares of the company traded hands, compared to its average volume of 2,676,249. The stock has a 50-day moving average of $61.65 and a 200-day moving average of $62.41. HDFC Bank Limited has a one year low of $53.00 and a one year high of $68.50. The firm has a market cap of $150.96 billion, a P/E ratio of 18.12, a PEG ratio of 1.66 and a beta of 0.91. 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 announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.09 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.