Murphy & Mullick Capital Management Corp Acquires Stake in HDFC Bank

During the fourth quarter, Murphy & Mullick Capital Management Corp made a significant investment by acquiring a new stake in HDFC Bank Limited (NYSE:HDB). According to the company’s latest 13F filing with the Securities & Exchange Commission, the fund purchased 6,785 shares of HDFC Bank's stock, which is valued at approximately $433,000.

In addition to Murphy & Mullick's recent investment, several other hedge funds and institutional investors have adjusted their holdings in HDFC Bank. Notably, Glenmede Trust Co. NA increased its stake by 3.6% in the third quarter. After acquiring an additional 167 shares, Glenmede Trust now owns 4,807 shares valued at $301,000.

Waverton Investment Management Ltd also augmented its holdings in HDFC Bank during the fourth quarter by 1.0%, bringing its total to 19,963 shares, worth $1,275,000 after buying 203 more shares. Similarly, Commerce Bank expanded its position by 7.0% in the third quarter, acquiring an additional 225 shares to reach a total of 3,427 shares valued at $214,000.

Another investor, Pin Oak Investment Advisors Inc., significantly increased its stake by 104.1% in the third quarter, now holding 498 shares worth $31,000 after acquiring an extra 254 shares. Additionally, Baron Wealth Management LLC increased its position by 3.7% in the fourth quarter, acquiring 263 shares, which brings its total holdings to 7,360 shares valued at $470,000.

As a result of these institutional investments, 17.61% of HDFC Bank's stock is now owned by institutional investors.

HDFC Bank Stock Performance

On Wednesday, shares of HDFC Bank opened at $65.90. The stock has a 50-day simple moving average of $60.56 and a 200-day simple moving average of $62.56. With a market capitalization of $166.88 billion, HDFC Bank has a price-to-earnings (PE) ratio of 20.03, a price-to-earnings-growth (PEG) ratio of 2.12, and a beta of 0.92. Over the past year, the stock reached a low of $54.07 and a high of $68.50. In terms of financial health, the bank has a debt-to-equity ratio of 1.26 and both a quick and current ratio of 0.09.

On January 22nd, HDFC Bank reported its quarterly earnings, announcing earnings per share (EPS) of $0.82, which exceeded analysts' consensus estimate of $0.74 by $0.08. The bank noted a net margin of 14.64% and a return on equity of 12.19%. Analysts expect that HDFC Bank Limited will achieve an EPS of 3.03 for the current fiscal year.

Brokerage Ratings and Analyst Outlook

Recent activity from various brokerages regarding HDFC Bank has resulted in revised ratings. StockNews.com downgraded HDFC Bank from a "hold" to a "sell" rating in a report released on November 27th. In contrast, Nomura upgraded the bank from a "neutral" to a "buy" rating in a research report published on January 23rd. On the same day, Nomura Securities enhanced its stance, moving from a "hold" to a "strong-buy" rating for HDFC Bank.

HDFC Bank Overview

HDFC Bank Limited is a major player in providing banking and financial services in India and beyond, including Bahrain, Hong Kong, and Dubai. The company operates in three key segments: Wholesale Banking, Retail Banking, and Treasury Services. Its offerings include savings accounts, salary accounts, current accounts, fixed deposits, and various other financial services.

Conclusion

HDFC Bank has seen recent investment activity that reflects the interest of various institutional investors. While some analysts have adjusted their ratings, the overall sentiment continues to indicate stability and potential growth for the bank in the upcoming fiscal year.

investment, banking, finance