OVERSEA CHINESE BANKING Corp Ltd Buys 5,779,375 Shares of HDFC Bank Limited (NYSE:HDB)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 6,502.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,868,259 shares of the bank's stock after buying an additional 5,779,375 shares during the period. HDFC Bank accounts for 1.8% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 10th biggest position. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.23% of HDFC Bank worth $389,887,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FIL Ltd grew its stake in shares of HDFC Bank by 17.5% in the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock worth $1,115,451,000 after acquiring an additional 2,599,337 shares during the last quarter. Temasek Holdings Private Ltd lifted its position in shares of HDFC Bank by 2.3% during the 4th 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 in the last quarter. GQG Partners LLC lifted its holdings in HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after purchasing an additional 3,364,114 shares in the last quarter. FMR LLC lifted its holdings in shares of HDFC Bank by 13.3% in the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank's stock worth $497,668,000 after buying an additional 914,289 shares in the last quarter. Finally, Royal Bank of Canada lifted 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 buying an additional 2,196,315 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

HDFC Bank stock traded down $0.08 during midday trading on Tuesday, hitting $75.14. 448,633 shares of the company were exchanged, compared to its average volume of 2,696,597. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $78.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.07. The firm has a market capitalization of $190.26 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The business has a fifty day simple moving average of $74.72 and a two-hundred day simple moving average of $67.40.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. On average, sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

HDFC Bank Company 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.