HighTower Advisors LLC Acquires 9,706 Shares of HDFC Bank Limited (NYSE:HDB)

HighTower Advisors LLC grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 229,855 shares of the bank’s stock after purchasing an additional 9,706 shares during the period. HighTower Advisors LLC’s holdings in HDFC Bank were worth $14,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HDB. Natural Investments LLC bought a new position in HDFC Bank in the 4th quarter worth $1,229,000. Endowment Wealth Management Inc. increased its holdings in shares of HDFC Bank by 4.9% during the 4th quarter. Endowment Wealth Management Inc. now owns 6,202 shares of the bank’s stock worth $396,000 after purchasing an additional 289 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of HDFC Bank during the 4th quarter worth about $7,325,000. Pzena Investment Management LLC increased its holdings in shares of HDFC Bank by 64.0% during the 4th quarter. Pzena Investment Management LLC now owns 509,664 shares of the bank’s stock worth $32,547,000 after purchasing an additional 198,928 shares during the period. Finally, Barings LLC increased its holdings in shares of HDFC Bank by 3.3% during the 4th quarter. Barings LLC now owns 365,517 shares of the bank’s stock worth $23,342,000 after purchasing an additional 11,643 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

HDB has been the topic of several research reports. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $60.68 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The firm’s 50-day simple moving average is $60.00 and its 200-day simple moving average is $62.42. HDFC Bank Limited has a twelve month low of $54.07 and a twelve month high of $68.50. The firm has a market cap of $153.66 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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 3.03 EPS for the current fiscal 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.