Zurich Insurance Group Ltd FI Grows Stake in HDFC Bank Limited (NYSE:HDB)

Zurich Insurance Group Ltd FI boosted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 34.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,015 shares of the bank's stock after purchasing an additional 35,291 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in HDFC Bank were worth $8,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glenmede Trust Co. NA grew its holdings in shares of HDFC Bank by 3.6% during the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank's stock valued at $301,000 after buying an additional 167 shares during the last quarter. Commerce Bank boosted its stake in HDFC Bank by 7.0% during the 3rd quarter. Commerce Bank now owns 3,427 shares of the bank's stock valued at $214,000 after purchasing an additional 225 shares during the last quarter. UMB Bank n.a. increased its holdings in HDFC Bank by 5.4% during the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank's stock worth $311,000 after purchasing an additional 248 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its holdings in 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 in the last quarter. Finally, Mount Yale Investment Advisors LLC raised its stake in shares of HDFC Bank by 4.2% in the third quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank's stock worth $399,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Down 0.6 %

Shares of NYSE HDB traded down $0.40 during trading on Friday, hitting $67.31. The stock had a trading volume of 1,906,029 shares, compared to its average volume of 2,983,853. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a fifty day moving average of $63.48 and a two-hundred day moving average of $61.99. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.41. The company has a market capitalization of $170.45 billion, a PE ratio of 20.46, a PEG ratio of 1.80 and a beta of 0.92.

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