Rhumbline Advisers Has $15.30 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Rhumbline Advisers reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 239,605 shares of the bank’s stock after selling 17,137 shares during the quarter. Rhumbline Advisers’ holdings in HDFC Bank were worth $15,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its holdings in HDFC Bank by 451.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank’s stock worth $1,245,000 after buying an additional 15,955 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in shares of HDFC Bank by 144.1% during the 4th quarter. Banque Pictet & Cie SA now owns 59,808 shares of the bank’s stock worth $3,819,000 after buying an additional 35,304 shares during the last quarter. Figure 8 Investment Strategies LLC acquired a new position in shares of HDFC Bank during the 4th quarter worth about $1,413,000. Naples Global Advisors LLC boosted its stake in shares of HDFC Bank by 3.4% during the 4th quarter. Naples Global Advisors LLC now owns 27,414 shares of the bank’s stock worth $1,751,000 after buying an additional 905 shares during the last quarter. Finally, Channing Global Advisors LLC lifted its stake in HDFC Bank by 20.8% in the 4th 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 during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $59.46 on Friday. The company’s 50 day simple moving average is $61.36 and its 200 day simple moving average is $62.42. The stock has a market capitalization of $150.56 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. HDFC Bank Limited has a 1 year low of $53.00 and a 1 year high of $68.50.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data 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 net margin of 14.64% and a return on equity of 12.19%. As a group, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.