HB Wealth Management LLC Raises Stake in HDFC Bank Limited (NYSE:HDB)

Key Points

• HB Wealth Management LLC increased its stake in HDFC Bank Limited by 110.5% in Q1, owning a total of 7,680 shares valued at approximately $510,000.
• Oversea Chinese Banking Corp Ltd significantly boosted its position in HDFC Bank by 6,502.2% during the same period, acquiring nearly 5.8 million additional shares.
• HDFC Bank's recent earnings report indicated a slight miss with $0.74 earnings per share, below the analyst consensus estimate of $0.75, even as revenue exceeded expectations at $5.10 billion.

HB Wealth Management LLC boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 110.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,680 shares of the bank's stock after buying an additional 4,031 shares during the quarter. HB Wealth Management LLC's holdings in HDFC Bank were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HDB. Bank Pictet & Cie Europe AG raised its holdings in HDFC Bank by 451.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after buying an additional 15,955 shares during the last quarter. LPL Financial LLC raised its holdings in HDFC Bank by 17.4% in the 4th quarter. LPL Financial LLC now owns 115,776 shares of the bank's stock worth $7,393,000 after purchasing an additional 17,173 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after purchasing an additional 240 shares in the last quarter. Alliancebernstein L.P. raised its holdings in HDFC Bank by 6.9% in the 4th quarter. Alliancebernstein L.P. now owns 133,627 shares of the bank's stock worth $8,533,000 after purchasing an additional 8,663 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in HDFC Bank by 1.8% in the 4th quarter. Pitcairn Co. now owns 22,903 shares of the bank's stock worth $1,463,000 after purchasing an additional 414 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded down $0.36 during trading on Tuesday, hitting $76.12. The company's stock had a trading volume of 264,028 shares, compared to its average volume of 2,626,128. The company has a market capitalization of $192.76 billion, a PE ratio of 23.34, a P/E/G ratio of 1.92 and a beta of 0.64. HDFC Bank Limited has a 52 week low of $57.24 and a 52 week high of $79.61. The company has a fifty day simple moving average of $76.03 and a two-hundred day simple moving average of $69.08.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 11.60% and a net margin of 14.49%. As a group, analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

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

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.