KLP Kapitalforvaltning AS Acquires New Holdings in HDFC Bank Limited (NYSE:HDB)

KLP Kapitalforvaltning AS acquired a new stake in HDFC Bank Limited (NYSE:HDB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 239,600 shares of the bank’s stock, valued at approximately $15,301,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd raised its holdings in HDFC Bank by 1.6% during the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock worth $523,453,000 after purchasing an additional 132,445 shares during the last quarter. FMR LLC raised its holdings in HDFC Bank by 19.3% during the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after purchasing an additional 1,114,210 shares during the last quarter. Franklin Resources Inc. raised its holdings in HDFC Bank by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after purchasing an additional 560,880 shares during the last quarter. Wellington Management Group LLP raised its holdings in HDFC Bank by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after purchasing an additional 108,312 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in HDFC Bank by 9.0% during the 3rd quarter. Fisher Asset Management LLC now owns 3,955,982 shares of the bank’s stock worth $247,486,000 after purchasing an additional 325,999 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB stock opened at $64.54 on Monday. The company has a market cap of $163.42 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a 52 week low of $54.07 and a 52 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. The firm has a 50 day moving average of $60.26 and a 200-day moving average of $62.49.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping 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%. On average, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

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