Figure 8 Investment Strategies LLC Buys New Position in HDFC Bank Limited (NYSE:HDB)

Figure 8 Investment Strategies LLC bought a new position in HDFC Bank Limited (NYSE:HDB) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 22,120 shares of the bank’s stock, valued at approximately $1,413,000. HDFC Bank accounts for approximately 1.4% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other large investors have also recently modified their holdings of HDB. Cetera Investment Advisers raised its position in shares of HDFC Bank by 2.4% in the 2nd quarter. Cetera Investment Advisers now owns 14,979 shares of the bank’s stock worth $964,000 after acquiring an additional 358 shares in the last quarter. CWM LLC lifted its holdings in shares of HDFC Bank by 2,567.2% during the third quarter. CWM LLC now owns 3,094 shares of the bank’s stock valued at $194,000 after purchasing an additional 2,978 shares during the last quarter. Creative Planning grew its stake in shares of HDFC Bank by 26.0% in the 3rd quarter. Creative Planning now owns 130,768 shares of the bank’s stock worth $8,181,000 after buying an additional 26,983 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its position in HDFC Bank by 13.9% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 4,780 shares of the bank’s stock valued at $287,000 after buying an additional 584 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its position in shares of HDFC Bank by 29.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 432,000 shares of the bank’s stock worth $27,026,000 after purchasing an additional 98,000 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB stock opened at $60.25 on Friday. 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 50 day moving average price of $62.37 and a 200-day moving average price of $62.40. HDFC Bank Limited has a 52 week low of $52.31 and a 52 week high of $68.50. The firm has a market capitalization of $152.56 billion, a PE ratio of 18.31, a P/E/G ratio of 1.70 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research 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.