180,921 Shares in HDFC Bank Limited $HDB Acquired by AIA Group Ltd

Key Points

• AIA Group acquired 180,921 HDFC Bank shares in the third quarter, valued at approximately $4.04 million.
• Institutional investors own 17.61% of the stock; other reported buyers included Principal Financial Group, TT International, and Bank of America.
• Analysts’ consensus rating is Hold, with a $26.10 target price. HDFC Bank beat quarterly EPS estimates, reporting $0.42 versus the expected $0.40.

AIA Group Ltd purchased a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 180,921 shares of the bank's stock, valued at approximately $4,042,000.

A number of other hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of HDFC Bank by 16,808.5% in the 1st quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank's stock valued at $447,289,000 after acquiring an additional 17,871,520 shares during the last quarter. TT International Asset Management LTD purchased a new stake in HDFC Bank during the 3rd quarter valued at about $85,025,000. Bank of America Corp DE grew its position in HDFC Bank by 40.7% during the 1st quarter. Bank of America Corp DE now owns 10,549,235 shares of the bank's stock worth $262,465,000 after acquiring an additional 3,051,055 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in HDFC Bank during the 2nd quarter worth approximately $65,204,000. Finally, Royal Bank of Canada lifted its position in HDFC Bank by 6.3% in the first quarter. Royal Bank of Canada now owns 42,418,483 shares of the bank's stock valued at $1,055,372,000 after purchasing an additional 2,520,716 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. Weiss Ratings cut shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. HSBC lowered shares of HDFC Bank from a "buy" rating to a "hold" rating and cut their price target for the stock from $30.80 to $26.10 in a report on Monday, August 31st. The Goldman Sachs Group assumed coverage on shares of HDFC Bank in a research report on Friday, August 21st. They issued a "buy" rating on the stock. Finally, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.10.

HDFC Bank Trading Up 5.7%

HDFC Bank stock opened at $24.35 on Thursday. HDFC Bank Limited has a 12 month low of $21.36 and a 12 month high of $37.35. The company has a market capitalization of $124.96 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.27 and a beta of 0.64. The business's fifty day simple moving average is $22.68 and its two-hundred day simple moving average is $25.74.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analysts' expectations of $4.95 billion. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. On average, equities research analysts predict that HDFC Bank Limited will post 1.65 EPS for the current year.

HDFC Bank Profile

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.

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