National Bank of Canada FI Grows Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Key Points

• National Bank of Canada FI significantly increased its stake in HDFC Bank, acquiring an additional 1,561,505 shares, which boosted its holdings by 81.3% to a total of 3,483,173 shares valued at approximately $231 million.
• Several institutional investors have made considerable changes to their positions in HDFC Bank, with Larson Financial Group LLC increasing its position by 1,217.1% and others also boosting their investments.
• HDFC Bank reported a net margin of 14.49% and earnings per share (EPS) of $0.74 for the last quarter, slightly missing expectations, while its shares are currently trading near their 52-week high of $79.61.

National Bank of Canada FI boosted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 81.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,483,173 shares of the bank's stock after acquiring an additional 1,561,505 shares during the quarter. National Bank of Canada FI owned 0.14% of HDFC Bank worth $231,422,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG lifted its position in shares of HDFC Bank by 451.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock worth $1,245,000 after buying an additional 15,955 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of HDFC Bank by 6.9% during the 4th quarter. Alliancebernstein L.P. now owns 133,627 shares of the bank's stock worth $8,533,000 after buying an additional 8,663 shares in the last quarter. Aviva PLC lifted its position in shares of HDFC Bank by 11.4% during the 4th quarter. Aviva PLC now owns 47,072 shares of the bank's stock worth $3,006,000 after buying an additional 4,799 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of HDFC Bank by 6.8% during the 4th quarter. Federated Hermes Inc. now owns 51,909 shares of the bank's stock worth $3,315,000 after buying an additional 3,293 shares in the last quarter. Finally, FMR LLC lifted its position in shares of HDFC Bank by 13.3% during the 4th quarter. FMR LLC now owns 7,793,113 shares of the bank's stock worth $497,668,000 after buying an additional 914,289 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 1.3%

Shares of NYSE:HDB traded down $0.95 during mid-day trading on Friday, reaching $74.78. The company had a trading volume of 1,712,885 shares, compared to its average volume of 1,845,690. The firm has a market cap of $190.74 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.86 and a beta of 0.64. The company's 50-day moving average price is $76.11 and its 200-day moving average price is $69.46. HDFC Bank Limited has a one year low of $57.78 and a one year high of $79.61.

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 analysts' consensus estimates 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 return on equity of 11.60% and a net margin of 14.49%. On average, research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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 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.