HDFC Bank Limited (NYSE:HDB) Stock Holdings Boosted by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in HDFC Bank by 87.7% in Q1, owning 166,864 shares valued at approximately $11.1 million.
• HDFC Bank's stock recently received an upgrade from a "sell" to a "hold" rating by Wall Street analysts, indicating improved market sentiment.
• The bank reported $0.74 EPS in its latest quarterly earnings, slightly missing analyst expectations, with a net margin of 14.49%.

OVERSEA CHINESE BANKING Corp Ltd raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 87.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,864 shares of the bank's stock after acquiring an additional 77,980 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in HDFC Bank were worth $11,086,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FIL Ltd grew its stake in 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 purchasing an additional 2,599,337 shares in the last quarter. Temasek Holdings Private Ltd grew its position in shares of HDFC Bank by 2.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock worth $546,500,000 after acquiring an additional 190,566 shares in the last quarter. FMR LLC increased its holdings in shares of HDFC Bank by 13.3% in the 4th quarter. FMR LLC now owns 7,793,113 shares of the bank's stock valued at $497,668,000 after acquiring an additional 914,289 shares during the last quarter. Royal Bank of Canada raised its position in shares of HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after acquiring an additional 2,196,315 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in HDFC Bank by 27.3% during the fourth quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock worth $407,006,000 after purchasing an additional 1,368,365 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th.

HDFC Bank Price Performance

Shares of NYSE HDB traded down $0.53 during mid-day trading on Monday, hitting $76.46. The company had a trading volume of 1,734,116 shares, compared to its average volume of 1,890,784. HDFC Bank Limited has a 12 month low of $57.24 and a 12 month high of $79.61. The stock has a market cap of $193.61 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.92 and a beta of 0.64. The firm's 50 day simple moving average is $75.98 and its two-hundred day simple moving average is $68.95.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Equities analysts forecast 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.