Fayez Sarofim & Co Purchases 6,835 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• Fayez Sarofim & Co increased its holdings in HDFC Bank Limited by 7.8%, acquiring an additional 6,835 shares, bringing its total to 93,935 shares valued at approximately $6.24 million.
• HDFC Bank recently reported earnings per share (EPS) of $0.74, slightly missing analysts' expectations, but exceeded revenue expectations with $5.10 billion for the quarter.
• Institutional investors own 17.61% of HDFC Bank stock, with other firms like Vanguard Group and Atria Wealth Solutions also increasing their stakes significantly in recent months.

Fayez Sarofim & Co grew its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,935 shares of the bank's stock after acquiring an additional 6,835 shares during the period. Fayez Sarofim & Co's holdings in HDFC Bank were worth $6,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Exencial Wealth Advisors LLC raised its stake in shares of HDFC Bank by 4.5% during the first quarter. Exencial Wealth Advisors LLC now owns 20,225 shares of the bank's stock valued at $1,344,000 after acquiring an additional 870 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of HDFC Bank by 67.4% during the first quarter. Vanguard Group Inc. now owns 272,824 shares of the bank's stock valued at $18,126,000 after acquiring an additional 109,810 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of HDFC Bank by 21.7% during the first quarter. iA Global Asset Management Inc. now owns 8,196 shares of the bank's stock valued at $545,000 after buying an additional 1,459 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of HDFC Bank by 38.5% during the first quarter. Atria Wealth Solutions Inc. now owns 10,459 shares of the bank's stock valued at $695,000 after buying an additional 2,909 shares during the period. Finally, Raiffeisen Bank International AG increased its position in shares of HDFC Bank by 21.3% during the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock valued at $12,778,000 after buying an additional 33,983 shares during the period. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

HDFC Bank Price Performance

Shares of NYSE HDB opened at $75.86 on Thursday. HDFC Bank Limited has a 1 year low of $57.78 and a 1 year high of $79.61. The company's 50-day moving average is $76.10 and its 200 day moving average is $69.17. The stock has a market capitalization of $192.10 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.89 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last announced 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 company had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. Research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current 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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