HDFC Bank Limited $HDB Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in HDFC Bank Limited by 8.4%, acquiring an additional 84,952 shares, bringing its total to over 1.1 million shares worth approximately $73.1 million.
• Several other large institutional investors, including GQG Partners LLC and OVERSEA CHINESE BANKING Corp Ltd, also significantly increased their positions in HDFC Bank during the first quarter, reflecting strong investor interest.
• Despite a slight decline in stock price, HDFC Bank maintains a consensus rating of "Strong Buy" among analysts, indicating positive growth expectations for the bank's stock.

Northern Trust Corp lifted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100,540 shares of the bank's stock after acquiring an additional 84,952 shares during the period. Northern Trust Corp's holdings in HDFC Bank were worth $73,120,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HDB. GQG Partners LLC increased its position 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 acquiring an additional 8,313,645 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock worth $389,887,000 after acquiring an additional 5,779,375 shares in the last quarter. Nuveen LLC acquired a new stake in shares of HDFC Bank in the first quarter worth $178,342,000. Royal Bank of Canada increased its position 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 acquiring an additional 2,196,315 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of HDFC Bank by 81.3% in the first quarter. National Bank of Canada FI now owns 3,483,173 shares of the bank's stock worth $231,422,000 after acquiring an additional 1,561,505 shares in the last quarter. Institutional investors and hedge funds 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 assigned a Buy rating to the stock. According to data from MarketBeat.com, HDFC Bank presently has a consensus rating of "Strong Buy".

HDFC Bank Trading Down 1.5%

Shares of HDB stock opened at $72.86 on Tuesday. The company has a market capitalization of $185.85 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.89 and a beta of 0.64. The firm has a fifty day simple moving average of $75.83 and a 200-day simple moving average of $70.61. HDFC Bank Limited has a twelve month low of $57.78 and a twelve month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results 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). The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Profile

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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