Bank Pictet & Cie Europe AG Grows Stake in HDFC Bank Limited $HDB

Bank Pictet & Cie Europe AG increased its position in HDFC Bank Limited (NYSE:HDB) by 93.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 82,230 shares of the bank’s stock after acquiring an additional 39,756 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in HDFC Bank were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC grew its stake in shares of HDFC Bank by 7.1% during the 1st quarter. Ieq Capital LLC now owns 4,456 shares of the bank’s stock valued at $296,000 after purchasing an additional 294 shares during the period. Graham Capital Management L.P. boosted its holdings in shares of HDFC Bank by 33.7% in the first quarter. Graham Capital Management L.P. now owns 12,372 shares of the bank’s stock worth $822,000 after buying an additional 3,115 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its position in HDFC Bank by 112.2% during the first quarter. Focus Partners Advisor Solutions LLC now owns 8,947 shares of the bank’s stock valued at $594,000 after buying an additional 4,730 shares during the period. Aprio Wealth Management LLC increased its holdings in HDFC Bank by 35.0% during the first quarter. Aprio Wealth Management LLC now owns 5,424 shares of the bank’s stock valued at $360,000 after buying an additional 1,406 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in HDFC Bank by 8.8% during the first quarter. Advisors Asset Management Inc. now owns 35,476 shares of the bank’s stock valued at $2,357,000 after buying an additional 2,882 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $36.54 on Friday. The stock has a market cap of $186.41 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The firm has a fifty day moving average price of $36.21 and a 200-day moving average price of $36.52.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $4.98 billion. On average, research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

HDB has been the topic of several analyst reports. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of HDFC Bank in a research report on Monday. Finally, Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, HDFC Bank has a consensus rating of “Moderate Buy”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).