HDFC Bank Limited $HDB Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its HDFC Bank stake by 48.5% in the first quarter, bringing its holdings to 139,728 shares valued at approximately $3.48 million.
• Several major institutions also added to their positions, including Royal Bank of Canada, JPMorgan Chase, and Principal Financial Group; institutional investors collectively own 17.61% of HDFC Bank.
• HDFC Bank reported quarterly EPS of $0.40, exceeding the $0.38 consensus estimate, while analysts’ overall rating remains “Hold.” Shares opened at $23.88, near the lower end of their 52-week range.

First Trust Advisors LP boosted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 48.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,728 shares of the bank's stock after acquiring an additional 45,629 shares during the quarter. First Trust Advisors LP's holdings in HDFC Bank were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of HDB. GQG Partners LLC boosted its stake in shares of HDFC Bank by 1.5% during the 4th quarter. GQG Partners LLC now owns 52,962,709 shares of the bank's stock worth $1,935,258,000 after acquiring an additional 777,977 shares in the last quarter. Royal Bank of Canada increased its stake in HDFC Bank by 31.0% in the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank's stock valued at $1,457,865,000 after purchasing an additional 9,451,992 shares in the last quarter. Schroder Investment Management Group raised its holdings in HDFC Bank by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank's stock worth $959,713,000 after purchasing an additional 1,043,596 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in HDFC Bank by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank's stock worth $749,239,000 after purchasing an additional 1,299,851 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in HDFC Bank by 16,808.5% during the first quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank's stock worth $447,289,000 after purchasing an additional 17,871,520 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Down 0.0%

NYSE:HDB opened at $23.88 on Thursday. The company has a market cap of $121.82 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.13 and a beta of 0.65. HDFC Bank Limited has a fifty-two week low of $22.66 and a fifty-two week high of $38.29. The firm's 50 day moving average is $24.73 and its two-hundred day moving average is $27.13.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%.The company had revenue of $9.01 billion during the quarter, compared to analyst estimates of $5 billion. Research analysts forecast that HDFC Bank Limited will post 1.67 earnings per share for the current fiscal year.

HDFC Bank 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source