State of New Jersey Common Pension Fund D Purchases 315,036 Shares of HDFC Bank Limited (NYSE:HDB)

State of New Jersey Common Pension Fund D boosted its position in HDFC Bank Limited (NYSE:HDB) by 25.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,550,276 shares of the bank’s stock after acquiring an additional 315,036 shares during the period. State of New Jersey Common Pension Fund D’s holdings in HDFC Bank were worth $104,039,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HDB. Baillie Gifford & Co. raised its holdings in HDFC Bank by 183.8% in the third quarter. Baillie Gifford & Co. now owns 9,560,478 shares of the bank’s stock worth $564,164,000 after purchasing an additional 6,191,548 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its holdings in shares of HDFC Bank by 832.6% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock valued at $136,379,000 after acquiring an additional 1,814,263 shares in the last quarter. Aikya Investment Management Ltd acquired a new position in shares of HDFC Bank during the fourth quarter valued at about $77,036,000. Wellington Management Group LLP increased its holdings in shares of HDFC Bank by 51.6% during the third quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock valued at $145,000,000 after acquiring an additional 836,449 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of HDFC Bank by 57.8% during the third quarter. Royal London Asset Management Ltd. now owns 2,002,576 shares of the bank’s stock valued at $118,192,000 after acquiring an additional 733,492 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Monday.

HDFC Bank Stock Performance

NYSE HDB traded up $0.01 during trading hours on Friday, reaching $58.34. The stock had a trading volume of 1,434,119 shares, compared to its average volume of 3,553,626. The stock has a fifty day moving average of $56.10 and a 200 day moving average of $58.57. The stock has a market cap of $108.51 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.87. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40.

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.