BI Asset Management Fondsmaeglerselskab A S Purchases 50,807 Shares of HDFC Bank Limited $HDB

Key Points

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BI Asset Management Fondsmaeglerselskab A S boosted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its position in HDFC Bank by 52.0% in the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after purchasing an additional 347,488 shares during the period. Tudor Investment Corp ET AL bought a new stake in HDFC Bank in the 4th quarter worth approximately $580,000. Raiffeisen Bank International AG grew its position in HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank's stock worth $12,778,000 after purchasing an additional 33,983 shares during the period. Natixis Advisors LLC grew its position in HDFC Bank by 20.6% in the 1st quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock worth $148,730,000 after purchasing an additional 382,267 shares during the period. Finally, ARGA Investment Management LP grew its position in HDFC Bank by 7.2% in the 1st quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock worth $103,246,000 after purchasing an additional 104,162 shares during the period. Institutional investors own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Strong Buy".

HDFC Bank Stock Performance

Shares of HDB stock traded down $1.4480 during mid-day trading on Friday, reaching $73.9720. 2,304,424 shares of the company's stock traded hands, compared to its average volume of 1,589,278. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61. The firm has a 50 day moving average price of $75.87 and a two-hundred day moving average price of $70.53. The firm has a market capitalization of $188.68 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.89 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business had revenue of $5.10 billion for 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 expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal 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.