JPMorgan Chase & Co. Grows Holdings in HDFC Bank Limited (NYSE:HDB)

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.

JPMorgan Chase & Co. boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,616,713 shares of the bank's stock after buying an additional 202,032 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of HDFC Bank worth $638,934,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of HDFC Bank by 1,217.1% during 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 in the last quarter. Cullen Frost Bankers Inc. boosted its stake in HDFC Bank by 448.7% during 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 during the period. NBC Securities Inc. purchased a new position in HDFC Bank during the first quarter worth about $55,000. Pinnacle Bancorp Inc. boosted its position in shares of HDFC Bank by 109.7% during the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after buying an additional 443 shares during the period. Finally, Rakuten Securities Inc. boosted its position in shares of HDFC Bank by 233.0% during the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

NYSE:HDB traded up $0.91 during trading hours on Friday, hitting $74.76. The company's stock had a trading volume of 640,393 shares, compared to its average volume of 2,570,149. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The company has a market capitalization of $190.69 billion, a PE ratio of 22.94, a PEG ratio of 1.84 and a beta of 0.64. The business's 50-day moving average is $76.00 and its two-hundred day moving average is $69.81.

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 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 company had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. As a group, analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Company 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.