HDFC Bank Limited (NYSE:HDB) Stake Boosted by Citigroup Inc.

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.

Citigroup Inc. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 21.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,374,487 shares of the bank's stock after acquiring an additional 247,287 shares during the period. Citigroup Inc. owned about 0.05% of HDFC Bank worth $91,321,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares in the last quarter. NBC Securities Inc. acquired a new position in HDFC Bank in the first quarter worth about $55,000. Pinnacle Bancorp Inc. grew its stake in HDFC Bank by 109.7% in the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after purchasing an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. grew its stake in HDFC Bank by 233.0% in the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after purchasing an additional 629 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Performance

Shares of HDB traded down $0.17 during mid-day trading on Thursday, reaching $73.84. 755,744 shares of the company's stock traded hands, compared to its average volume of 2,578,690. The business's 50-day moving average price is $76.03 and its 200-day moving average price is $69.70. The stock has a market capitalization of $188.33 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly 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 net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank 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.