CCLA Investment Management Grows Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• CCLA Investment Management increased its stake in HDFC Bank by 3.7% in Q1, owning over 2 million shares, making it the bank's 16th largest position in CCLA's portfolio.
• Northern Trust Corp significantly boosted its holdings in HDFC Bank by 52% during Q4, now owning over 1 million shares valued at approximately $64.9 million.
• Wall Street Zen has upgraded HDFC Bank from a "sell" to a "hold" rating, indicating a positive shift in outlook for the bank's stock performance.

CCLA Investment Management lifted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000,621 shares of the bank's stock after buying an additional 71,530 shares during the period. HDFC Bank makes up 2.4% of CCLA Investment Management's holdings, making the stock its 16th biggest position. CCLA Investment Management owned 0.08% of HDFC Bank worth $132,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HDB. Northern Trust Corp lifted its stake in HDFC Bank by 52.0% in the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after purchasing an additional 347,488 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of HDFC Bank in the fourth quarter valued at approximately $580,000. Ovata Capital Management Ltd lifted its position in HDFC Bank by 89.7% during the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after buying an additional 326,400 shares in the last quarter. ARGA Investment Management LP boosted its stake in 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 during the last quarter. Finally, Natixis Advisors LLC boosted its stake in 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 during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th.

HDFC Bank Price Performance

NYSE:HDB opened at $77.00 on Friday. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $79.61. The firm has a market capitalization of $194.99 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.92 and a beta of 0.64. The company's 50-day moving average is $75.98 and its two-hundred day moving average is $68.88.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its 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). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. As a group, equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

About HDFC Bank

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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