HDFC Bank Limited $HDB is Altrinsic Global Advisors LLC's 3rd Largest Position

Key Points

• Altrinsic Global Advisors LLC has reduced its stake in HDFC Bank Limited by 6.1%, making it the fund's 3rd largest holding at approximately 8.3% of its portfolio.
• HDFC Bank's stock price has seen a recent decline of 1.5%, trading at $72.86, while also reporting quarterly earnings that missed expectations by $0.01 per share.
• Wall Street analysts have upgraded HDFC Bank from a "sell" to a "hold" rating, with the stock currently holding a consensus rating of "Strong Buy".

Altrinsic Global Advisors LLC decreased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,543,758 shares of the bank's stock after selling 163,969 shares during the period. HDFC Bank makes up about 8.3% of Altrinsic Global Advisors LLC's portfolio, making the stock its 3rd biggest holding. Altrinsic Global Advisors LLC owned about 0.10% of HDFC Bank worth $169,007,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC raised its stake in HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock worth $1,076,128,000 after acquiring an additional 8,313,645 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after buying an additional 202,032 shares during the period. Temasek Holdings Private Ltd lifted its holdings in shares of HDFC Bank by 2.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock valued at $546,500,000 after buying an additional 190,566 shares during the period. Royal Bank of Canada lifted its holdings in shares of HDFC Bank by 43.0% in the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after buying an additional 2,196,315 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of HDFC Bank by 27.3% in the 4th quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock valued at $407,006,000 after buying an additional 1,368,365 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Down 1.5%

Shares of HDFC Bank stock opened at $72.86 on Tuesday. HDFC Bank Limited has a twelve month low of $57.78 and a twelve month high of $79.61. The business has a 50-day moving average price of $75.83 and a 200 day moving average price of $70.61. The firm has a market cap of $185.85 billion, a PE ratio of 22.35, 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 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 business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. On average, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Strong Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.