HDFC Bank Limited (NYSE:HDB) Shares Purchased by PineStone Asset Management Inc.

PineStone Asset Management Inc. increased its holdings in HDFC Bank Limited (NYSE:HDB) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,243,349 shares of the bank’s stock after buying an additional 288,700 shares during the quarter. HDFC Bank comprises approximately 1.9% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. PineStone Asset Management Inc. owned 0.13% of HDFC Bank worth $207,120,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its stake in shares of HDFC Bank by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after acquiring an additional 167 shares during the period. Commerce Bank grew its position in HDFC Bank by 7.0% during the 3rd quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after purchasing an additional 225 shares during the period. 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 valued at $31,000 after buying an additional 254 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 4.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after buying an additional 257 shares during the period. Finally, Baron Wealth Management LLC boosted its stake in shares of HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock worth $470,000 after buying an additional 263 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on HDB. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of HDB stock opened at $60.29 on Friday. The company has a market capitalization of $152.68 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.70 and a beta of 0.91. HDFC Bank Limited has a 12-month low of $53.00 and a 12-month high of $68.50. The business’s 50 day moving average is $62.22 and its two-hundred day moving average is $62.38. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Analysts expect 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.