Northwest & Ethical Investments L.P. boosted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,067 shares of the bank's stock after purchasing an additional 3,764 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in HDFC Bank were worth $2,596,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. GQG Partners LLC increased its holdings in shares of HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after acquiring an additional 8,313,645 shares in the last quarter. JPMorgan Chase & Co. boosted its position in HDFC Bank by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after buying an additional 202,032 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in HDFC Bank by 2.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock valued at $546,500,000 after buying an additional 190,566 shares during the last quarter. Royal Bank of Canada boosted its position in HDFC Bank by 43.0% in the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after buying an additional 2,196,315 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in 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 valued at $407,006,000 after buying an additional 1,368,365 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Strong Buy".
View Our Latest Stock Analysis on HDFC Bank
HDFC Bank Trading Down 1.9%
HDFC Bank stock traded down $1.4480 during mid-day trading on Friday, hitting $73.9720. The company had a trading volume of 2,304,424 shares, compared to its average volume of 1,541,077. HDFC Bank Limited has a 12-month low of $57.78 and a 12-month high of $79.61. The company has a market capitalization 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. The company's fifty day moving average is $75.87 and its 200-day moving average is $70.41.
HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results 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). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.
About HDFC Bank
(
Free Report)
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.
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