Fisher Asset Management LLC Has $247.49 Million Stake in HDFC Bank Limited (NYSE:HDB)

Fisher Asset Management LLC raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 9.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,955,982 shares of the bank’s stock after purchasing an additional 325,999 shares during the period. Fisher Asset Management LLC’s holdings in HDFC Bank were worth $247,486,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $36,000. Northwest Investment Counselors LLC bought a new position in shares of HDFC Bank during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC raised its holdings in shares of HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after purchasing an additional 275 shares during the period. LRI Investments LLC bought a new stake in shares of HDFC Bank in the 1st quarter worth approximately $56,000. Finally, GAMMA Investing LLC raised its holdings in shares of HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Stock Up 3.7 %

HDFC Bank stock opened at $66.88 on Tuesday. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The firm has a market capitalization of $169.36 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.71 and a beta of 0.91. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a 50 day simple moving average of $63.11 and a 200 day simple moving average of $61.29.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. On average, analysts predict that HDFC Bank Limited will post 3.15 earnings per share for the current year.

HDFC Bank Company 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.