Brooklyn Investment Group Acquires 7,719 Shares of HDFC Bank Limited $HDB

Key Points

• Brooklyn Investment Group increased its stake in HDFC Bank Limited by 411% in Q1, acquiring a total of 9,597 shares valued at $638,000.
• Several other large investors also raised their positions in HDFC Bank during the same period, with notable increases from both Northwest & Ethical Investments and State of New Jersey Common Pension Fund D.
• HDFC Bank's recent earnings report indicated a net income of $5.10 billion, slightly exceeding analysts' expectations, though the bank missed the EPS estimate by $0.01.

Brooklyn Investment Group boosted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 411.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,597 shares of the bank's stock after purchasing an additional 7,719 shares during the quarter. Brooklyn Investment Group's holdings in HDFC Bank were worth $638,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HDB. GAMMA Investing LLC grew its stake in shares of HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after acquiring an additional 153 shares during the last quarter. DMC Group LLC grew its stake in shares of HDFC Bank by 2.5% in the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after acquiring an additional 181 shares during the last quarter. Platform Technology Partners grew its stake in shares of HDFC Bank by 2.7% in the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after acquiring an additional 201 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of HDFC Bank by 2.7% in the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after acquiring an additional 241 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its stake in shares of HDFC Bank by 0.4% in the fourth quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock worth $5,406,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Strong Buy".

HDFC Bank Stock Performance

Shares of NYSE HDB traded down $1.4480 during trading on Friday, hitting $73.9720. The company had a trading volume of 2,304,424 shares, compared to its average volume of 2,548,940. The stock has a 50 day simple moving average of $75.86 and a 200 day simple moving average of $70.32. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61. The firm has a market capitalization of $188.68 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64.

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

HDFC Bank Company 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.