144,577 Shares in HDFC Bank Limited (NYSE:HDB) Purchased by Bennbridge Ltd

Bennbridge Ltd acquired a new position in HDFC Bank Limited (NYSE:HDB) in the fourth quarter, HoldingsChannel reports. The fund acquired 144,577 shares of the bank’s stock, valued at approximately $9,233,000. HDFC Bank comprises 9.4% of Bennbridge Ltd’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its stake in 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. Waverton Investment Management Ltd raised its holdings in HDFC Bank by 1.0% in the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock worth $1,275,000 after purchasing an additional 203 shares in the last quarter. Commerce Bank raised its holdings in HDFC Bank by 7.0% in the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after purchasing an additional 225 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in HDFC Bank by 104.1% in the third 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, Baron Wealth Management LLC raised its holdings in 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 purchasing an additional 263 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

HDB opened at $60.44 on Thursday. HDFC Bank Limited has a 52-week low of $54.07 and a 52-week high of $68.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The company has a market cap of $153.05 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The firm’s 50-day moving average price is $60.12 and its 200-day moving average price is $62.42.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, equities analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

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.