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Citigroup Inc. Buys 247,287 Shares of HDFC Bank Limited (NYSE:HDB)

HDFC Bank logo with Finance background

Key Points

  • Citigroup Inc. increased its stake in HDFC Bank Limited by 21.9% during the first quarter, now holding 1,374,487 shares valued at approximately $91.32 million.
  • Other investors, including Bank Pictet & Cie Europe AG, have also significantly increased their holdings, with Pictet's position growing by 451.3% in the fourth quarter.
  • HDFC Bank's stock recently fell by 1.3% and reported earnings of $0.74 per share for the last quarter, slightly below analysts' expectations.
  • Looking to export and analyze HDFC Bank data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Citigroup Inc. raised its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,374,487 shares of the bank's stock after purchasing an additional 247,287 shares during the quarter. Citigroup Inc. owned about 0.05% of HDFC Bank worth $91,321,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Northern Trust Corp boosted its stake in shares of HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after acquiring an additional 347,488 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of HDFC Bank in the fourth quarter valued at $580,000. Raiffeisen Bank International AG lifted its holdings in shares of HDFC Bank by 21.3% in the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock valued at $12,778,000 after purchasing an additional 33,983 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of HDFC Bank by 20.6% in the first quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock valued at $148,730,000 after purchasing an additional 382,267 shares in the last quarter. Finally, ARGA Investment Management LP lifted its holdings in shares of HDFC Bank by 7.2% in the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock valued at $103,246,000 after purchasing an additional 104,162 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded down $0.24 during midday trading on Tuesday, hitting $73.85. 1,501,822 shares of the stock were exchanged, compared to its average volume of 1,855,890. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The business's fifty day simple moving average is $76.06 and its two-hundred day simple moving average is $69.67. The company has a market capitalization of $188.37 billion, a PE ratio of 22.65, a P/E/G ratio of 1.85 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. As a group, equities analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

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

Read Our Latest Research Report on HDB

HDFC Bank Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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