Mirae Asset Global Investments Co. Ltd. Has $69.72 Million Holdings in HDFC Bank Limited (NYSE:HDB)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 177.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,075,131 shares of the bank’s stock after purchasing an additional 687,811 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in HDFC Bank were worth $69,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd increased 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 acquiring an additional 132,445 shares during the last quarter. FMR LLC increased 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 acquiring an additional 1,114,210 shares during the last quarter. Franklin Resources Inc. increased 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 acquiring an additional 560,880 shares during the last quarter. Wellington Management Group LLP increased 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 acquiring an additional 108,312 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of HDFC Bank by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock valued at $302,970,000 after acquiring an additional 51,736 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 2.1 %

HDB stock opened at $61.13 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $154.79 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.67 and a beta of 0.91. The business’s fifty day moving average price is $63.21 and its two-hundred day moving average price is $62.37. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, equities analysts anticipate that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on HDB shares. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-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.