HDFC Bank Limited (NYSE:HDB) Shares Acquired by Pinpoint Asset Management Ltd

Key Points

• Pinpoint Asset Management Ltd has increased its holdings in HDFC Bank by 37.7%, now owning a total of 168,667 shares worth approximately $11.2 million.
• HDFC Bank reported earnings of $0.74 EPS, missing analyst expectations, but had a revenue of $5.1 billion, exceeding forecasts of $5.03 billion.
• Wall Street Zen upgraded HDFC Bank's rating from "sell" to "hold" in a recent research note.

Pinpoint Asset Management Ltd boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,667 shares of the bank's stock after purchasing an additional 46,211 shares during the period. HDFC Bank makes up approximately 2.0% of Pinpoint Asset Management Ltd's holdings, making the stock its 12th biggest position. Pinpoint Asset Management Ltd's holdings in HDFC Bank were worth $11,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after purchasing an additional 426 shares during the period. Cullen Frost Bankers Inc. boosted its stake in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares during the period. NBC Securities Inc. acquired a new position in HDFC Bank in the 1st quarter worth approximately $55,000. Pinnacle Bancorp Inc. boosted its stake in HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after purchasing an additional 443 shares during the period. Finally, Rakuten Securities Inc. boosted its stake in HDFC Bank by 233.0% in the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after purchasing an additional 629 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

HDFC Bank stock opened at $75.86 on Thursday. HDFC Bank Limited has a 52 week low of $57.78 and a 52 week high of $79.61. The firm has a market capitalization of $192.10 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.89 and a beta of 0.64. The company has a 50 day moving average price of $76.10 and a 200 day moving average price of $69.17.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. Equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.