HDFC Bank Limited $HDB is Northcape Capital Pty Ltd's 3rd Largest Position

Key Points

• Northcape Capital increased its HDFC Bank position by 6.1% in the second quarter, owning 4.98 million shares worth approximately $128.6 million. HDFC Bank represents 17.3% of Northcape’s portfolio and is its third-largest holding.
• HDFC Bank shares opened at $23.45, near their 12-month low of $22.66 and below both their 50-day and 200-day moving averages. The bank beat quarterly earnings expectations with EPS of $0.40 versus the $0.38 consensus.
• Analyst sentiment remains cautious, with recent rating changes resulting in a consensus “Hold” rating; institutional investors collectively own 17.61% of the company.

Northcape Capital Pty Ltd increased its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,978,603 shares of the bank's stock after acquiring an additional 284,954 shares during the period. HDFC Bank makes up 17.3% of Northcape Capital Pty Ltd's investment portfolio, making the stock its 3rd largest holding. Northcape Capital Pty Ltd owned about 0.10% of HDFC Bank worth $128,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDB. Larson Financial Group LLC boosted its position in shares of HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock worth $29,000 after purchasing an additional 403 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of HDFC Bank in the 1st quarter worth approximately $32,000. Pin Oak Investment Advisors Inc. increased its position in HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock valued at $34,000 after buying an additional 498 shares in the last quarter. Bell Investment Advisors Inc increased its position in HDFC Bank by 260.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock valued at $34,000 after buying an additional 1,002 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in HDFC Bank during the third quarter valued at $43,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 0.8%

HDFC Bank stock opened at $23.45 on Tuesday. The firm has a market cap of $120.32 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.11 and a beta of 0.65. The stock has a fifty day simple moving average of $24.72 and a two-hundred day simple moving average of $26.94. HDFC Bank Limited has a 12 month low of $22.66 and a 12 month high of $37.85.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%.The firm had revenue of $14.02 billion for the quarter, compared to the consensus estimate of $5 billion. On average, equities research analysts forecast that HDFC Bank Limited will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on HDB. Weiss Ratings raised HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. Finally, Wall Street Zen lowered HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".

HDFC Bank Company Profile

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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