Zurich Insurance Group Ltd FI Boosts Holdings in HDFC Bank Limited (NYSE:HDB)

Zurich Insurance Group Ltd FI increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 15.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 157,592 shares of the bank’s stock after purchasing an additional 20,577 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in HDFC Bank were worth $10,064,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new stake in HDFC Bank during the fourth quarter worth $29,000. Graney & King LLC purchased a new position in shares of HDFC Bank during the 4th quarter worth $38,000. Brown Brothers Harriman & Co. increased its position in shares of 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 during the last quarter. Sierra Ocean LLC acquired a new stake in shares of HDFC Bank during the 4th quarter worth about $42,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in HDFC Bank in the 4th quarter valued at about $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Price Performance

HDB stock opened at $73.03 on Wednesday. The business’s fifty day moving average price is $68.79 and its 200 day moving average price is $64.60. HDFC Bank Limited has a 12-month low of $55.00 and a 12-month high of $75.37. 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 $184.93 billion, a PE ratio of 22.20, a P/E/G ratio of 2.12 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $434.68 billion. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on HDB shares. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

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.