HDFC Bank Limited $HDB Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S lifted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 406,318 shares of the bank's stock after purchasing an additional 50,807 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in HDFC Bank were worth $26,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after buying an additional 153 shares during the last quarter. DMC Group LLC lifted its position in HDFC Bank by 2.5% in the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after buying an additional 181 shares during the last quarter. Platform Technology Partners lifted its position in HDFC Bank by 2.7% in the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock valued at $508,000 after buying an additional 201 shares during the last quarter. Portside Wealth Group LLC lifted its position in HDFC Bank by 2.7% in the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock valued at $599,000 after buying an additional 241 shares during the last quarter. Finally, Eagle Global Advisors LLC lifted its position in HDFC Bank by 0.4% in the fourth quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock valued at $5,406,000 after buying an additional 305 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

HDFC Bank Stock Performance

Shares of HDB traded down $1.4480 during mid-day trading on Friday, hitting $73.9720. 2,304,424 shares of the company's stock were exchanged, compared to its average volume of 1,541,077. The company has a market cap of $188.68 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 1.93 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week high of $79.61. The stock's 50-day moving average is $75.87 and its 200-day moving average is $70.41.

HDFC Bank (NYSE:HDB - Get Free Report) last issued 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). The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, equities research analysts anticipate 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.