Russell Investments Group Ltd. Increases Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• Russell Investments Group Ltd. increased its stake in HDFC Bank by 4.9%, owning over 2.5 million shares valued at approximately $168.8 million after purchasing an additional 118,265 shares in the first quarter.
• HDFC Bank's stock recently experienced a 0.8% decline, opening at $74.12, with a 12-month range between $57.78 and $79.61.
• Wall Street analysts upgraded HDFC Bank's rating from "sell" to "hold," reflecting a more cautious outlook for the company's performance.

Russell Investments Group Ltd. boosted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,541,113 shares of the bank's stock after purchasing an additional 118,265 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of HDFC Bank worth $168,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in HDFC Bank by 1,217.1% in the first 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 last quarter. Cullen Frost Bankers Inc. raised its stake in HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after buying an additional 507 shares in the last quarter. NBC Securities Inc. bought a new position in HDFC Bank in the first quarter worth approximately $55,000. Pinnacle Bancorp Inc. raised its stake in HDFC Bank by 109.7% in the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after buying an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. raised its stake in HDFC Bank by 233.0% in the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

NYSE HDB traded up $1.09 on Friday, hitting $74.94. The stock had a trading volume of 1,654,155 shares, compared to its average volume of 1,836,277. The business's fifty day moving average price is $75.94 and its 200 day moving average price is $69.91. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The stock has a market cap of $191.15 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64.

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

Wall Street Analyst Weigh In

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.