Ethic Inc. Has $4.50 Million Stock Holdings in HDFC Bank Limited $HDB

Key Points

• Ethic Inc. has increased its holdings in HDFC Bank Limited by 9.8%, owning a total of 68,933 shares valued at approximately $4.5 million.
• Several other institutional investors also increased their stakes in HDFC Bank, with Larson Financial Group LLC raising its holdings by an impressive 1,217.1% during the first quarter.
• HDFC Bank's recent quarterly earnings showed a miss on EPS estimates at $0.74, against a forecast of $0.75, despite reporting revenues of $5.10 billion, surpassing expectations.

Ethic Inc. boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,933 shares of the bank's stock after acquiring an additional 6,163 shares during the period. Ethic Inc.'s holdings in HDFC Bank were worth $4,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its position in shares of HDFC Bank by 451.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after buying an additional 15,955 shares during the last quarter. Mariner LLC grew its stake in HDFC Bank by 6.6% during the fourth quarter. Mariner LLC now owns 62,783 shares of the bank's stock worth $4,009,000 after buying an additional 3,868 shares during the last quarter. Guggenheim Capital LLC grew its stake in HDFC Bank by 8.4% during the fourth quarter. Guggenheim Capital LLC now owns 26,135 shares of the bank's stock worth $1,669,000 after buying an additional 2,019 shares during the last quarter. NewEdge Advisors LLC grew its stake in HDFC Bank by 4,495.7% during the fourth quarter. NewEdge Advisors LLC now owns 10,754 shares of the bank's stock worth $687,000 after buying an additional 10,520 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in HDFC Bank by 2,739.2% during the fourth quarter. Marshall Wace LLP now owns 366,796 shares of the bank's stock worth $23,424,000 after buying an additional 353,877 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Performance

HDFC Bank stock traded up $0.1330 during mid-day trading on Wednesday, reaching $74.9930. The company's stock had a trading volume of 2,001,907 shares, compared to its average volume of 2,560,247. The company has a market capitalization of $191.29 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61. The business's 50 day simple moving average is $75.90 and its 200 day simple moving average is $70.18.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Strong Buy".

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.