Verition Fund Management LLC Buys Shares of 15,933 HDFC Bank Limited (NYSE:HDB)

Verition Fund Management LLC bought a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,933 shares of the bank's stock, valued at approximately $997,000.

Several other large investors have also recently bought and sold shares of the stock. Citigroup Inc. increased its stake in shares of HDFC Bank by 21.1% during the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank's stock valued at $71,559,000 after acquiring an additional 199,582 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank's stock valued at $15,114,000 after purchasing an additional 28,500 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of HDFC Bank by 42.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 34,100 shares of the bank's stock valued at $2,133,000 after purchasing an additional 10,127 shares during the period. US Bancorp DE raised its stake in shares of HDFC Bank by 38.1% in the 3rd quarter. US Bancorp DE now owns 139,865 shares of the bank's stock worth $8,750,000 after buying an additional 38,571 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of HDFC Bank by 9.0% in the third quarter. Fisher Asset Management LLC now owns 3,955,982 shares of the bank's stock valued at $247,486,000 after buying an additional 325,999 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Price Performance

HDB stock traded up $0.70 on Monday, hitting $68.01. 1,740,889 shares of the company's stock traded hands, compared to its average volume of 3,016,828. The stock has a market cap of $172.22 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.79 and a beta of 0.92. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year 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 stock has a fifty day moving average of $63.59 and a 200-day moving average of $62.07.

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

About HDFC Bank

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.