CogentBlue Wealth Advisors LLC Takes Position in HDFC Bank Limited (NYSE:HDB)

CogentBlue Wealth Advisors LLC 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 Securities & Exchange Commission. The institutional investor acquired 3,659 shares of the bank’s stock, valued at approximately $234,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd raised its position 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 period. FMR LLC raised its holdings in HDFC Bank by 19.3% in the third 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 period. Franklin Resources Inc. raised its holdings in HDFC Bank by 9.0% in the third 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 period. Wellington Management Group LLP boosted its position in shares of HDFC Bank by 2.2% during the third 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 buying an additional 51,736 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $60.76 on Thursday. HDFC Bank Limited has a 12 month low of $53.00 and a 12 month high of $68.50. The stock has a 50 day moving average of $61.65 and a 200-day moving average of $62.41. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $153.85 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.66 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share (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%. As a group, equities research analysts predict that HDFC Bank Limited will post 3.09 EPS for the current year.

HDFC Bank 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.