Ethic Inc. Grows Position in HDFC Bank Limited (NYSE:HDB)

Ethic Inc. grew its stake in HDFC Bank Limited (NYSE:HDB) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,770 shares of the bank’s stock after acquiring an additional 14,158 shares during the quarter. Ethic Inc.’s holdings in HDFC Bank were worth $4,008,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Eagle Global Advisors LLC lifted its holdings in HDFC Bank by 0.4% in the 4th quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank’s stock valued at $5,406,000 after purchasing an additional 305 shares in the last quarter. Eminence Capital LP lifted its stake in shares of HDFC Bank by 6.5% during the fourth quarter. Eminence Capital LP now owns 997,536 shares of the bank’s stock valued at $63,703,000 after buying an additional 60,824 shares during the period. Cetera Investment Advisers grew its stake in HDFC Bank by 2.1% in the 4th quarter. Cetera Investment Advisers now owns 16,052 shares of the bank’s stock worth $1,025,000 after acquiring an additional 324 shares during the period. Bridgefront Capital LLC acquired a new position in HDFC Bank in the 4th quarter valued at $333,000. Finally, Bamco Inc. NY lifted its stake in shares of HDFC Bank by 4.4% during the 4th quarter. Bamco Inc. NY now owns 46,684 shares of the bank’s stock worth $2,981,000 after purchasing an additional 1,986 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $70.54 on Friday. The stock has a market capitalization of $178.63 billion, a P/E ratio of 21.44, a PEG ratio of 2.12 and a beta of 0.63. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The business’s fifty day moving average price is $66.95 and its 200 day moving average price is $64.17. HDFC Bank Limited has a twelve month low of $54.99 and a twelve month high of $75.37.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HDB has been the subject of several analyst reports. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.