Arrowstreet Capital Limited Partnership Purchases Shares of 528,422 HDFC Bank Limited $HDB

Key Points

• Arrowstreet Capital acquired 528,422 HDFC Bank shares during the first quarter, valued at approximately $13.1 million. Several other institutional investors also increased their positions, with institutions and hedge funds owning 17.61% of the stock.
• Analyst sentiment is mixed but averages a “Hold” rating: Zacks Research and Weiss Ratings upgraded the stock to Hold, while Wall Street Zen downgraded it to Sell.
• HDFC Bank reported quarterly EPS of $0.40, beating expectations of $0.38, while revenue reached $9.01 billion. Shares opened at $23.89, near the lower end of their 52-week range, and were trading below both their 50-day and 200-day moving averages.

Arrowstreet Capital Limited Partnership acquired a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 528,422 shares of the bank's stock, valued at approximately $13,147,000.

A number of other hedge funds have also modified their holdings of HDB. Principal Financial Group Inc. raised its holdings in HDFC Bank by 16,808.5% during the 1st quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank's stock worth $447,289,000 after buying an additional 17,871,520 shares during the period. Royal Bank of Canada lifted its stake in HDFC Bank by 31.0% during the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank's stock valued at $1,457,865,000 after buying an additional 9,451,992 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of HDFC Bank by 9,866.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank's stock worth $271,381,000 after buying an additional 7,864,692 shares during the period. Wellington Management Group LLP boosted its holdings in shares of HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank's stock worth $449,381,000 after buying an additional 6,386,002 shares during the period. Finally, Invesco Ltd. increased its position in shares of HDFC Bank by 98.3% in the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank's stock worth $421,466,000 after acquiring an additional 6,115,797 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HDB has been the topic of several research analyst reports. Zacks Research upgraded shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Weiss Ratings upgraded HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Finally, Wall Street Zen downgraded HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

HDFC Bank Trading Down 1.0%

HDB opened at $23.89 on Friday. The business has a 50 day moving average of $24.75 and a 200-day moving average of $27.36. The stock has a market capitalization of $121.87 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.14 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $22.66 and a 1-year high of $38.72.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $5 billion. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%. Equities analysts predict that HDFC Bank Limited will post 1.67 EPS for the current year.

Insider Transactions at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

HDFC Bank Profile

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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