Northwest & Ethical Investments L.P. Has $2.60 Million Stock Position in HDFC Bank Limited $HDB

Key Points

• Northwest & Ethical Investments L.P. increased its stake in HDFC Bank by 10.7%, owning a total of 39,067 shares valued at approximately $2.6 million.
• HDFC Bank's stock is currently trading at $75.42, showing a slight increase of 0.6%, with analysts anticipating 3.03 EPS for the current year.
• Recent changes in ratings include Wall Street Zen upgrading HDFC Bank's stock from a "sell" to a "hold" rating, indicating a shift in investor sentiment.

Northwest & Ethical Investments L.P. grew its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,067 shares of the bank's stock after buying an additional 3,764 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in HDFC Bank were worth $2,596,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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 assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

HDFC Bank Stock Down 1.9%

HDB traded down $1.4480 during trading on Friday, reaching $73.9720. 2,304,424 shares of the stock traded hands, compared to its average volume of 1,589,278. The stock has a market capitalization of $188.68 billion, a PE ratio of 22.69, a P/E/G ratio of 1.89 and a beta of 0.64. The stock's 50-day moving average is $75.87 and its 200 day moving average is $70.53. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. 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.