LPL Financial LLC Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• LPL Financial LLC increased its stake in HDFC Bank Limited by 20.9%, now owning approximately $9.3 million worth of shares as of the latest quarter.
• Other institutional investors have also shown interest, with significant stake increases from firms like HB Wealth Management LLC, which boosted its holding by 110.5%.
• Despite a recent earnings miss, where HDFC Bank reported $0.74 EPS against an expected $0.75, analysts forecast that the bank will achieve 3.03 EPS for the current fiscal year.

LPL Financial LLC boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,961 shares of the bank's stock after buying an additional 24,185 shares during the period. LPL Financial LLC's holdings in HDFC Bank were worth $9,299,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. lifted 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 purchasing an additional 507 shares in the last quarter. NBC Securities Inc. acquired a new position in HDFC Bank during the first quarter worth $55,000. Pinnacle Bancorp Inc. lifted its stake in 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 purchasing an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in 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 purchasing an additional 629 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Price Performance

Shares of NYSE HDB traded down $0.18 during mid-day trading on Thursday, hitting $73.82. The company had a trading volume of 728,438 shares, compared to its average volume of 2,578,551. The company has a market capitalization of $188.30 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $57.78 and a 1-year high of $79.61. The business's 50-day simple moving average is $76.03 and its 200 day simple moving average is $69.70.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business 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%. On average, analysts expect that HDFC Bank Limited will post 3.03 EPS for the current 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.