Letko Brosseau & Associates Inc. Boosts Stock Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• Letko Brosseau & Associates Inc. has increased its stake in HDFC Bank Limited by 8.0%, holding a total of 57,330 shares valued at approximately $3.81 million.
• Major investors such as FIL Ltd and Royal Bank of Canada also raised their stakes significantly, indicating strong interest in HDFC Bank.
• HDFC Bank's recent earnings report showed a net margin of 14.49% and revenue of $5.10 billion, reflecting robust financial health despite missing the earnings per share estimate.

Letko Brosseau & Associates Inc. increased its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,330 shares of the bank's stock after acquiring an additional 4,230 shares during the period. Letko Brosseau & Associates Inc.'s holdings in HDFC Bank were worth $3,809,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HDB. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in HDFC Bank by 6,502.2% during 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 during the period. FIL Ltd grew its holdings in HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after purchasing an additional 2,599,337 shares during the period. Royal Bank of Canada grew its holdings in HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after purchasing an additional 2,196,315 shares during the period. National Bank of Canada FI grew its holdings in HDFC Bank by 3,535.1% during the fourth quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank's stock valued at $122,718,000 after purchasing an additional 1,868,804 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 valued at $415,256,000 after purchasing an additional 1,545,639 shares during the period. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

HDFC Bank Price Performance

Shares of NYSE:HDB traded up $0.23 during trading on Friday, hitting $77.00. 861,192 shares of the company were exchanged, compared to its average volume of 1,847,724. The company has a market cap of $194.99 billion, a PE ratio of 23.62, a P/E/G ratio of 1.91 and a beta of 0.64. The stock has a 50 day moving average of $75.92 and a 200 day moving average of $68.69. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its 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). The company 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%. Sell-side analysts forecast 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.