Steadfast Capital Management LP Invests $11.76 Million in HDFC Bank Limited (NYSE:HDB)

Steadfast Capital Management LP acquired a new position in HDFC Bank Limited (NYSE:HDB) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 184,200 shares of the bank’s stock, valued at approximately $11,763,000.

Several other institutional investors have also recently modified their holdings of the company. Northern Trust Corp raised its position in HDFC Bank by 52.0% during the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank’s stock valued at $64,855,000 after acquiring an additional 347,488 shares in the last quarter. US Bancorp DE raised its position in HDFC Bank by 12.7% during the fourth quarter. US Bancorp DE now owns 157,665 shares of the bank’s stock valued at $10,068,000 after acquiring an additional 17,800 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in HDFC Bank during the fourth quarter valued at approximately $580,000. Trinity Street Asset Management LLP raised its position in HDFC Bank by 7.4% during the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock valued at $234,641,000 after acquiring an additional 252,600 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in HDFC Bank during the fourth quarter valued at approximately $2,907,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

NYSE:HDB opened at $72.95 on Friday. HDFC Bank Limited has a 52 week low of $55.00 and a 52 week high of $75.37. 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 company has a market capitalization of $184.74 billion, a P/E ratio of 22.17, a P/E/G ratio of 2.12 and a beta of 0.63. The stock’s fifty day moving average is $68.26 and its two-hundred day moving average is $64.46.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. Equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note 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.