Figure 8 Investment Strategies LLC Takes $1.41 Million Position in HDFC Bank Limited (NYSE:HDB)

Figure 8 Investment Strategies LLC bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 22,120 shares of the bank’s stock, valued at approximately $1,413,000. HDFC Bank accounts for 1.4% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Naples Global Advisors LLC grew its position in shares of HDFC Bank by 3.4% during the fourth quarter. Naples Global Advisors LLC now owns 27,414 shares of the bank’s stock valued at $1,751,000 after purchasing an additional 905 shares in the last quarter. Channing Global Advisors LLC grew its holdings in shares of HDFC Bank by 20.8% in the fourth quarter. Channing Global Advisors LLC now owns 41,560 shares of the bank’s stock valued at $2,654,000 after purchasing an additional 7,156 shares in the last quarter. Schwartz Investment Counsel Inc. increased its position in HDFC Bank by 3.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 50,050 shares of the bank’s stock worth $3,196,000 after purchasing an additional 1,900 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in shares of HDFC Bank in the 4th quarter worth $260,000. Finally, Aubrey Capital Management Ltd increased its holdings in shares of HDFC Bank by 29.6% in the 4th quarter. Aubrey Capital Management Ltd now owns 15,910 shares of the bank’s stock worth $1,016,000 after buying an additional 3,632 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on HDB shares. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Down 0.1 %

Shares of HDFC Bank stock opened at $60.25 on Friday. HDFC Bank Limited has a 1 year low of $52.31 and a 1 year high of $68.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $152.56 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.70 and a beta of 0.91. The firm’s 50-day moving average is $62.37 and its two-hundred day moving average is $62.40.

HDFC Bank (NYSE:HDB) last issued 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, research analysts expect that HDFC Bank Limited will post 3.09 earnings per share for the current fiscal year.

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.