Assenagon Asset Management S.A. Has $45.10 Million Holdings in HDFC Bank Limited $HDB

Key Points

• Assenagon Asset Management increased its HDFC Bank stake by 269.6% in the second quarter, holding 1.75 million shares valued at approximately $45.1 million. Other institutional investors also expanded their positions, with institutions collectively owning 17.61% of the company.
• HDFC Bank shares opened at $23.60, down 0.7%, near the lower end of their 52-week range. The bank recently reported quarterly EPS of $0.40, exceeding the $0.38 consensus estimate, on revenue of $14.02 billion.
• Analyst sentiment remains cautious: ratings range from “sell” to “hold,” and MarketBeat reports an overall average rating of Hold.

Assenagon Asset Management S.A. raised its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 269.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,746,160 shares of the bank's stock after acquiring an additional 1,273,703 shares during the quarter. Assenagon Asset Management S.A.'s holdings in HDFC Bank were worth $45,103,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Elliott Investment Management L.P. increased its stake in shares of HDFC Bank by 267.7% during the 1st quarter. Elliott Investment Management L.P. now owns 797,085 shares of the bank's stock worth $19,831,000 after purchasing an additional 580,329 shares during the last quarter. KBC Group NV raised its holdings in shares of HDFC Bank by 26.9% during the 1st quarter. KBC Group NV now owns 404,884 shares of the bank's stock valued at $10,074,000 after purchasing an additional 85,882 shares in the last quarter. M&T Bank Corp lifted its stake in shares of HDFC Bank by 788.3% in the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank's stock valued at $4,206,000 after purchasing an additional 102,166 shares during the last quarter. ABN Amro Investment Solutions lifted its stake in shares of HDFC Bank by 66.0% in the 1st quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank's stock valued at $37,294,000 after purchasing an additional 595,912 shares during the last quarter. Finally, Matthews International Capital Management LLC boosted its holdings in HDFC Bank by 58.3% in the fourth quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank's stock worth $12,567,000 after purchasing an additional 126,650 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Trading Down 0.7%

NYSE HDB opened at $23.60 on Friday. The company has a fifty day simple moving average of $24.72 and a 200 day simple moving average of $27.05. The company has a market cap of $120.41 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.11 and a beta of 0.65. HDFC Bank Limited has a 1 year low of $22.66 and a 1 year high of $38.01.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. The firm had revenue of $14.02 billion for the quarter, compared to the consensus estimate of $5 billion. Equities research analysts forecast that HDFC Bank Limited will post 1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Wall Street Zen cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Finally, Weiss Ratings upgraded HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

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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