GQG Partners LLC Acquires 8,313,645 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• GQG Partners LLC significantly increased its stake in HDFC Bank by acquiring an additional 8,313,645 shares, marking a total ownership of 16,196,992 shares, which is about 1.7% of its holdings.
• HDFC Bank stock is currently valued at $73.85, with a market cap of $188.37 billion and a recent earnings report showing $0.74 EPS, falling short of expectations.
• Analysts have upgraded HDFC Bank from a "sell" to a "hold" rating, indicating a changing outlook on the stock's performance.

GQG Partners LLC increased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 105.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,196,992 shares of the bank's stock after acquiring an additional 8,313,645 shares during the period. HDFC Bank comprises 1.7% of GQG Partners LLC's holdings, making the stock its 24th largest holding. GQG Partners LLC owned approximately 0.64% of HDFC Bank worth $1,076,128,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Triglav Skladi D.O.O. acquired a new stake in shares of HDFC Bank during the 1st quarter worth approximately $1,628,000. S Bank Fund Management Ltd bought a new position in HDFC Bank in the 1st quarter valued at approximately $3,986,000. Mondrian Investment Partners LTD lifted its stake in HDFC Bank by 1.3% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,057,182 shares of the bank's stock valued at $70,239,000 after purchasing an additional 13,738 shares during the last quarter. LGT Group Foundation bought a new position in HDFC Bank in the 1st quarter valued at approximately $5,429,000. Finally, Russell Investments Group Ltd. lifted its stake in HDFC Bank by 4.9% in the 1st quarter. Russell Investments Group Ltd. now owns 2,541,113 shares of the bank's stock valued at $168,798,000 after purchasing an additional 118,265 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

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

HDFC Bank Trading Up 1.5%

NYSE:HDB traded up $1.09 on Friday, hitting $74.94. The company had a trading volume of 1,654,155 shares, compared to its average volume of 1,836,277. The stock has a market capitalization of $191.15 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.84 and a beta of 0.64. The firm has a 50 day moving average of $75.94 and a two-hundred day moving average of $69.91. HDFC Bank Limited has a 52 week low of $57.78 and a 52 week high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last issued 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). The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS 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.