HDFC Bank Limited $HDB Shares Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio increased its stake in HDFC Bank by 3.2% in the first quarter, adding 59,402 shares and bringing its total holding to 1,932,932 shares worth about $48.1 million.
• HDFC Bank reported better-than-expected earnings, posting $0.40 EPS versus the $0.38 consensus and revenue of $9.01 billion versus forecasts of $5 billion.
• Sentiment remains mixed: some analysts recently downgraded or upgraded the stock, but MarketBeat’s data still shows an overall Hold rating.

Public Employees Retirement System of Ohio boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,932,932 shares of the bank's stock after buying an additional 59,402 shares during the quarter. Public Employees Retirement System of Ohio's holdings in HDFC Bank were worth $48,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HDB. Principal Financial Group Inc. raised its position in shares of HDFC Bank by 16,808.5% in the first quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank's stock worth $447,289,000 after acquiring an additional 17,871,520 shares during the period. Royal Bank of Canada grew its position in shares of HDFC Bank by 31.0% during 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 acquiring an additional 9,451,992 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of HDFC Bank by 9,866.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank's stock valued at $271,381,000 after acquiring an additional 7,864,692 shares during the period. Wellington Management Group LLP increased its stake in shares of HDFC Bank by 94.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank's stock valued at $449,381,000 after purchasing an additional 6,386,002 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of HDFC Bank by 98.3% in the 3rd quarter. Invesco Ltd. now owns 12,338,006 shares of the bank's stock valued at $421,466,000 after purchasing an additional 6,115,797 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Up 0.6%

HDB opened at $23.26 on Friday. The company has a market cap of $118.67 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.09 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $22.66 and a 52-week high of $39.07. The firm's fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $27.70.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. The business had revenue of $9.01 billion during the quarter, compared to analysts' expectations of $5 billion. On average, research analysts forecast that HDFC Bank Limited will post 1.67 EPS for the current year.

Insider Activity

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares of the company's stock, valued at $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the transaction, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HDB. Wall Street Zen cut HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Weiss Ratings raised HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Finally, Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold".

HDFC Bank Company 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).

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