Synergy Investment Management LLC Takes Position in HDFC Bank Limited (NYSE:HDB)

Synergy Investment Management LLC acquired a new stake in HDFC Bank Limited (NYSE:HDB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,168 shares of the bank’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Temasek Holdings Private Ltd boosted its stake in shares of HDFC Bank by 1.6% in the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after buying an additional 132,445 shares during the period. FMR LLC boosted its stake in shares of HDFC Bank by 19.3% in 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. Franklin Resources Inc. boosted its stake in shares of HDFC Bank by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock valued at $420,477,000 after buying an additional 560,880 shares during the period. Wellington Management Group LLP boosted its stake in shares of HDFC Bank by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock valued at $317,141,000 after buying an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in HDFC Bank by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock worth $302,970,000 after purchasing an additional 51,736 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB stock opened at $59.78 on Wednesday. The business has a 50 day moving average price of $60.69 and a 200 day moving average price of $62.47. The stock has a market cap of $151.37 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.12 and a beta of 0.91. HDFC Bank Limited has a fifty-two week low of $54.07 and a fifty-two 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.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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%. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HDB. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

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.