LPL Financial LLC Acquires 24,185 Shares of 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 lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 20.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 139,961 shares of the bank's stock after acquiring an additional 24,185 shares during the period. LPL Financial LLC's holdings in HDFC Bank were worth $9,299,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HDB. GAMMA Investing LLC grew its holdings in HDFC Bank by 6.8% during the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after purchasing an additional 153 shares during the period. DMC Group LLC grew its holdings in HDFC Bank by 2.5% during the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after purchasing an additional 181 shares during the period. Platform Technology Partners grew its holdings in HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock valued at $508,000 after purchasing an additional 201 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of HDFC Bank by 2.7% in the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock valued at $599,000 after buying an additional 241 shares during the period. Finally, Eagle Global Advisors LLC boosted its holdings in shares of HDFC Bank by 0.4% in the fourth quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock valued at $5,406,000 after buying an additional 305 shares during the period. 17.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

Shares of HDB traded down $0.24 during mid-day trading on Tuesday, reaching $73.85. The company had a trading volume of 1,501,822 shares, compared to its average volume of 1,855,890. The company's 50 day simple moving average is $76.08 and its 200 day simple moving average is $69.64. HDFC Bank Limited has a 1-year low of $57.78 and a 1-year high of $79.61. The company has a market capitalization of $188.37 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.85 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank 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.