Baillie Gifford & Co. Has $236.66 Million Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• Baillie Gifford & Co. reduced its stake in HDFC Bank by 1.5%, now owning approximately 3.56 million shares valued at $236.66 million as of its latest filing.
• Other institutional investors, such as Cetera Investment Advisers and Avantax Advisory Services Inc., increased their stakes in HDFC Bank during the first quarter.
• HDFC Bank has a current market capitalization of $197.52 billion and reported an EPS of $0.74, slightly below analyst expectations.

Baillie Gifford & Co. lowered its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,562,073 shares of the bank's stock after selling 53,677 shares during the quarter. Baillie Gifford & Co. owned about 0.14% of HDFC Bank worth $236,664,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in HDFC Bank by 52.0% during the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after purchasing an additional 347,488 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of HDFC Bank in the fourth quarter valued at approximately $580,000. Ovata Capital Management Ltd boosted its position in shares of HDFC Bank by 89.7% in the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock valued at $43,863,000 after acquiring an additional 326,400 shares during the period. ARGA Investment Management LP boosted its position in shares of HDFC Bank by 7.2% in the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock valued at $103,246,000 after acquiring an additional 104,162 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of HDFC Bank by 111.7% in the fourth quarter. First Trust Advisors LP now owns 39,109 shares of the bank's stock valued at $2,498,000 after acquiring an additional 20,633 shares during the period. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

Shares of HDB traded up $0.63 during mid-day trading on Tuesday, hitting $77.41. The company's stock had a trading volume of 811,086 shares, compared to its average volume of 2,667,425. HDFC Bank Limited has a one year low of $57.24 and a one year high of $79.61. The firm has a market capitalization of $196.01 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.94 and a beta of 0.64. The stock's 50-day moving average is $75.68 and its two-hundred day moving average is $68.44.

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

Analyst Ratings Changes

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

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.