Assenagon Asset Management S.A. Has $3.83 Million Holdings in HDFC Bank Limited (NYSE:HDB)

Assenagon Asset Management S.A. raised its position in shares of HDFC Bank Limited (NYSE:HDB) by 823.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,942 shares of the bank’s stock after buying an additional 53,449 shares during the quarter. Assenagon Asset Management S.A.’s holdings in HDFC Bank were worth $3,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. boosted its holdings in shares of HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after buying an additional 254 shares during the period. 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 grew its position in HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after acquiring an additional 275 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in HDFC Bank during the third quarter worth $65,000. Finally, GAMMA Investing LLC increased its position in shares of HDFC Bank by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after purchasing an additional 312 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $58.90 on Wednesday. The company’s fifty day moving average is $63.90 and its 200 day moving average is $62.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $149.16 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.66 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. Sell-side analysts forecast that HDFC Bank Limited will post 3.13 EPS for the current year.

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.