Polymer Capital Management HK LTD Acquires New Shares in HDFC Bank Limited (NYSE:HDB)

Polymer Capital Management HK LTD bought a new stake in HDFC Bank Limited (NYSE:HDB) in the fourth quarter, HoldingsChannel reports. The fund bought 119,596 shares of the bank’s stock, valued at approximately $7,637,000. HDFC Bank comprises 1.3% of Polymer Capital Management HK LTD’s portfolio, making the stock its 20th largest position.

Several other large investors also recently modified their holdings of the business. Whipplewood Advisors LLC acquired a new position in shares of HDFC Bank in the 4th quarter valued at approximately $29,000. Graney & King LLC acquired a new position in HDFC Bank in the 4th quarter worth $38,000. Brown Brothers Harriman & Co. grew its stake 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 acquiring an additional 240 shares in the last quarter. Sierra Ocean LLC acquired a new stake in HDFC Bank in the 4th quarter valued at $42,000. Finally, Atlas Capital Advisors Inc. bought a new stake in HDFC Bank during the 4th quarter worth about $56,000. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Trading Down 2.8 %

Shares of HDB stock opened at $65.12 on Friday. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $68.50. The firm has a 50 day moving average price of $61.70 and a two-hundred day moving average price of $62.78. 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 $164.90 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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, analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

HDB has been the subject of several recent research reports. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a report 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.