HDFC Bank Limited (NYSE:HDB) is Trinity Street Asset Management LLP's Largest Position

Trinity Street Asset Management LLP lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,642,000 shares of the bank's stock after selling 32,300 shares during the quarter. HDFC Bank makes up 24.5% of Trinity Street Asset Management LLP's holdings, making the stock its largest holding. Trinity Street Asset Management LLP owned about 0.14% of HDFC Bank worth $241,974,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Caprock Group LLC grew its position in shares of HDFC Bank by 15.7% during the 4th quarter. Caprock Group LLC now owns 25,261 shares of the bank's stock worth $1,613,000 after buying an additional 3,430 shares in the last quarter. abrdn plc grew its position in shares of HDFC Bank by 23.1% during the 4th quarter. abrdn plc now owns 367,484 shares of the bank's stock worth $23,381,000 after buying an additional 68,857 shares in the last quarter. Mather Group LLC. grew its position in shares of HDFC Bank by 10.7% during the 4th quarter. Mather Group LLC. now owns 3,620 shares of the bank's stock worth $231,000 after buying an additional 351 shares in the last quarter. Ninety One North America Inc. grew its position in shares of HDFC Bank by 13.9% during the 4th quarter. Ninety One North America Inc. now owns 63,976 shares of the bank's stock worth $4,086,000 after buying an additional 7,818 shares in the last quarter. Finally, ARGA Investment Management LP grew its position in shares of HDFC Bank by 3.2% during the 4th quarter. ARGA Investment Management LP now owns 1,449,813 shares of the bank's stock worth $92,585,000 after buying an additional 44,794 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Up 2.4%

Shares of HDB traded up $1.83 during midday trading on Friday, reaching $77.54. 3,232,738 shares of the stock were exchanged, compared to its average volume of 2,793,459. HDFC Bank Limited has a 52 week low of $57.24 and a 52 week high of $77.76. The company's 50 day moving average is $71.44 and its two-hundred day moving average is $65.64. The company has a market capitalization of $196.36 billion, a P/E ratio of 23.57, a PEG ratio of 2.12 and a beta of 0.64. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. On average, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

About HDFC Bank

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.