Synergy Investment Management LLC Acquires Shares of 1,168 HDFC Bank Limited (NYSE:HDB)

Synergy Investment Management LLC bought a new stake in HDFC Bank Limited (NYSE:HDB) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,168 shares of the bank’s stock, valued at approximately $75,000.

A number of other institutional investors have also modified their holdings of the stock. Nicola Wealth Management LTD. increased its holdings in shares of HDFC Bank by 21.6% in the fourth quarter. Nicola Wealth Management LTD. now owns 163,000 shares of the bank’s stock valued at $10,409,000 after purchasing an additional 29,000 shares during the period. State of Michigan Retirement System increased its holdings in shares of HDFC Bank by 5.0% in the fourth quarter. State of Michigan Retirement System now owns 190,000 shares of the bank’s stock valued at $12,133,000 after purchasing an additional 9,000 shares during the period. Marathon Asset Management Ltd increased its holdings in shares of HDFC Bank by 3.1% in the fourth quarter. Marathon Asset Management Ltd now owns 598,251 shares of the bank’s stock valued at $38,204,000 after purchasing an additional 17,892 shares during the period. DJE Kapital AG acquired a new position in shares of HDFC Bank in the fourth quarter valued at approximately $54,055,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of HDFC Bank by 88.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,860 shares of the bank’s stock valued at $183,000 after purchasing an additional 1,341 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 1.4 %

Shares of HDB stock opened at $59.78 on Wednesday. The business’s fifty day moving average price is $60.69 and its 200 day moving average price is $62.47. HDFC Bank Limited has a 1-year low of $54.07 and a 1-year high of $68.50. The firm has a market capitalization of $151.37 billion, a PE ratio of 18.17, a P/E/G 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 (NYSE:HDB) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered 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.