Choreo LLC Decreases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Choreo LLC trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,819 shares of the bank’s stock after selling 1,568 shares during the period. Choreo LLC’s holdings in HDFC Bank were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in HDFC Bank by 2,092.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock valued at $213,851,000 after buying an additional 3,262,442 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in HDFC Bank by 172.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,380,979 shares of the bank’s stock valued at $215,909,000 after buying an additional 2,140,591 shares during the period. FMR LLC raised its holdings in HDFC Bank by 19.3% during the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after buying an additional 1,114,210 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in HDFC Bank by 177.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075,131 shares of the bank’s stock valued at $69,719,000 after buying an additional 687,811 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in HDFC Bank by 570.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,849 shares of the bank’s stock valued at $42,406,000 after buying an additional 576,743 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $61.90 on Friday. The stock’s fifty day moving average is $62.98 and its two-hundred day moving average is $62.38. The company has a market capitalization of $156.74 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $68.50.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS 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, analysts expect that HDFC Bank Limited will post 3.09 earnings per share for the current year.

HDFC Bank 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.