HDFC Bank Limited $HDB Shares Newly Purchased by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management initiated a new HDFC Bank position during the third quarter, purchasing 78,080 shares valued at approximately $1.77 million.
• Institutional ownership stands at 17.61%, with several major investors—including Royal Bank of Canada, Principal Financial Group, Temasek and Bank of America—recently increasing their stakes.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $26.10; HDFC Bank shares recently traded at $22.76, near the lower end of their 52-week range.

Euro Pacific Asset Management LLC bought a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 78,080 shares of the bank's stock, valued at approximately $1,772,000.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in HDFC Bank by 6.3% during the 1st quarter. Royal Bank of Canada now owns 42,418,483 shares of the bank's stock worth $1,055,372,000 after purchasing an additional 2,520,716 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 buying an additional 17,871,520 shares in the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of HDFC Bank by 15.5% during the first quarter. Temasek Holdings Private Ltd now owns 12,559,656 shares of the bank's stock worth $312,484,000 after buying an additional 1,686,276 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of HDFC Bank by 40.7% during the first quarter. Bank of America Corp DE now owns 10,549,235 shares of the bank's stock worth $262,465,000 after buying an additional 3,051,055 shares in the last quarter. Finally, Trinity Street Asset Management LLP lifted its stake in shares of HDFC Bank by 27.3% in the 1st quarter. Trinity Street Asset Management LLP now owns 7,724,700 shares of the bank's stock valued at $192,191,000 after acquiring an additional 1,657,700 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. The Goldman Sachs Group began coverage on HDFC Bank in a report on Friday, August 21st. They issued a "buy" rating for the company. Weiss Ratings downgraded HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Finally, HSBC lowered HDFC Bank from a "buy" rating to a "hold" rating and cut their price target for the company from $30.80 to $26.10 in a research note on Monday, August 31st. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, HDFC Bank presently has a consensus rating of "Hold" and an average target price of $26.10.

HDFC Bank Price Performance

Shares of HDFC Bank stock traded up $0.18 during midday trading on Tuesday, reaching $22.76. The company had a trading volume of 6,516,068 shares, compared to its average volume of 9,094,453. The firm has a market cap of $116.80 billion, a PE ratio of 13.39, a P/E/G ratio of 1.09 and a beta of 0.61. The stock has a fifty day moving average price of $22.93 and a 200 day moving average price of $24.29. HDFC Bank Limited has a fifty-two week low of $21.70 and a fifty-two week high of $37.45.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $9.01 billion during the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 1.64 EPS for the current year.

HDFC Bank Company Profile

HDFC Bank Limited is a financial services company headquartered in Mumbai, India. Established in 1994, it operates as a private-sector commercial bank serving individuals, businesses, institutions and government-related entities.

The bank offers a broad range of products and services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, investment products and insurance distribution.

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