Ameriprise Financial Inc. Buys 13,308 Shares of HDFC Bank Limited $HDB

Key Points

• Ameriprise Financial Inc. increased its stake in HDFC Bank by purchasing 13,308 shares, bringing its total holdings to approximately 2.7 million shares valued at $180.4 million.
• HDFC Bank's stock rating was upgraded from "sell" to "hold" by Wall Street Zen, with an average rating of "Strong Buy" from analysts.
• Despite the upgrade, HDFC Bank's stock price has decreased by 1.9%, with current trading around $73.97, showing a 12-month range between a low of $57.78 and a high of $79.61.

Ameriprise Financial Inc. grew its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,714,623 shares of the bank's stock after purchasing an additional 13,308 shares during the quarter. Ameriprise Financial Inc. owned about 0.11% of HDFC Bank worth $180,376,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Northern Trust Corp lifted its stake in HDFC Bank by 52.0% in the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after buying an additional 347,488 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of HDFC Bank during the fourth quarter worth about $580,000. Raiffeisen Bank International AG grew its holdings in shares of HDFC Bank by 21.3% during the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock worth $12,778,000 after buying an additional 33,983 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of HDFC Bank by 20.6% during the first quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock worth $148,730,000 after buying an additional 382,267 shares in the last quarter. Finally, ARGA Investment Management LP grew its holdings in shares of HDFC Bank by 7.2% during the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock worth $103,246,000 after buying an additional 104,162 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Down 1.9%

HDB opened at $73.9720 on Friday. HDFC Bank Limited has a 12-month low of $57.78 and a 12-month high of $79.61. The stock has a market cap of $188.68 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.89 and a beta of 0.64. The business has a 50 day moving average of $75.87 and a 200-day moving average of $70.47.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. As a group, analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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.

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