HDFC Bank Limited (NYSE:HDB) Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,895 shares of the bank’s stock after purchasing an additional 1,413 shares during the quarter. Sterling Capital Management LLC’s holdings in HDFC Bank were worth $504,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in HDFC Bank in the fourth quarter valued at $29,000. Graney & King LLC purchased a new stake in shares of HDFC Bank during the 4th quarter worth about $38,000. Brown Brothers Harriman & Co. increased its position in HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock worth $39,000 after purchasing an additional 240 shares in the last quarter. Sierra Ocean LLC purchased a new position in HDFC Bank in the fourth quarter valued at approximately $42,000. Finally, Atlas Capital Advisors Inc. acquired a new position in HDFC Bank during the fourth quarter valued at approximately $56,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 4.2 %

Shares of NYSE:HDB opened at $72.19 on Friday. The company has a market capitalization of $182.80 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. The company has a 50 day moving average of $63.04 and a two-hundred day moving average of $62.94. HDFC Bank Limited has a 52-week low of $54.99 and a 52-week high of $72.34. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.