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JPMorgan Chase & Co. Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

HDFC Bank logo with Finance background

Key Points

  • JPMorgan Chase & Co. increased its stake in HDFC Bank Limited by 2.1% in Q1, owning 9,616,713 shares valued at approximately $638.93 million.
  • Other institutional investors, including OVERSEA CHINESE BANKING Corp and Royal Bank of Canada, significantly raised their stakes in HDFC Bank during the same period.
  • HDFC Bank reported a Q2 EPS of $0.74, which missed the consensus estimate of $0.75, while revenues reached $5.10 billion, exceeding expectations.
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JPMorgan Chase & Co. boosted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,616,713 shares of the bank's stock after purchasing an additional 202,032 shares during the quarter. JPMorgan Chase & Co. owned about 0.38% of HDFC Bank worth $638,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of HDB. OVERSEA CHINESE BANKING Corp Ltd raised its stake in HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock valued at $389,887,000 after purchasing an additional 5,779,375 shares in the last quarter. Royal Bank of Canada raised its stake in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after acquiring an additional 2,196,315 shares in the last quarter. National Bank of Canada FI raised its stake in shares of HDFC Bank by 81.3% during the first quarter. National Bank of Canada FI now owns 3,483,173 shares of the bank's stock worth $231,422,000 after acquiring an additional 1,561,505 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of HDFC Bank by 32.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,250,093 shares of the bank's stock worth $415,256,000 after acquiring an additional 1,545,639 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of 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 acquiring an additional 1,368,365 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

HDB stock opened at $74.78 on Monday. The company has a market capitalization of $190.74 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.86 and a beta of 0.64. HDFC Bank Limited has a one year low of $57.78 and a one year high of $79.61. The company's 50 day moving average price is $76.11 and its two-hundred day moving average price is $69.53.

HDFC Bank (NYSE:HDB - Get Free Report) last posted 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 business had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current 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.

Get Our Latest Analysis on HDB

HDFC Bank Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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.

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