Prudential PLC Acquires Shares of 19,850 HDFC Bank Limited $HDB

Key Points

• Prudential PLC has acquired a new position in HDFC Bank, purchasing 19,850 shares valued at approximately $1.3 million in the first quarter.
• Several hedge funds have also increased their stakes in HDFC Bank, with institutional investors currently holding 17.61% of the stock.
• HDFC Bank's stock has shown volatility, with a 1-year low of $57.78 and a high of $79.61, and the bank reporting earnings of $0.74 per share for the last quarter, slightly below estimates.

Prudential PLC bought a new stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,850 shares of the bank's stock, valued at approximately $1,313,000.

A number of other large investors also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock worth $638,934,000 after purchasing an additional 202,032 shares during the last quarter. Temasek Holdings Private Ltd boosted its holdings in HDFC Bank by 2.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock worth $546,500,000 after purchasing an additional 190,566 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after acquiring an additional 2,196,315 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of HDFC Bank by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock valued at $407,006,000 after acquiring an additional 1,368,365 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of HDFC Bank by 32.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,250,093 shares of the bank's stock valued at $415,256,000 after acquiring an additional 1,545,639 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock traded down $0.3650 during midday trading on Tuesday, hitting $75.0850. The company had a trading volume of 411,799 shares, compared to its average volume of 2,554,946. HDFC Bank Limited has a 1-year low of $57.78 and a 1-year high of $79.61. The business's 50 day simple moving average is $75.93 and its two-hundred day simple moving average is $70.15. The stock has a market cap of $191.52 billion, a PE ratio of 23.03, a P/E/G ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. On average, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy".

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.