OMERS ADMINISTRATION Corp Grows Stock Position in HDFC Bank Limited $HDB

Key Points

• OMERS ADMINISTRATION Corp boosted its HDFC Bank stake by 114.9% in the first quarter, buying 1.69 million additional shares and bringing its total holdings to 3.17 million shares worth about $78.8 million.
• HDFC Bank reported better-than-expected quarterly results, with EPS of $0.40 versus the $0.38 consensus and revenue of $9.01 billion versus the $5 billion estimate.
• Insider sentiment was mixed, as two executives sold shares, while analysts currently have an overall Hold rating on the stock after recent rating changes.

OMERS ADMINISTRATION Corp increased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 114.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,167,310 shares of the bank's stock after buying an additional 1,693,274 shares during the period. OMERS ADMINISTRATION Corp owned 0.06% of HDFC Bank worth $78,803,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of HDB. Larson Financial Group LLC raised its position in shares of HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock valued at $29,000 after buying an additional 403 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of HDFC Bank in the second quarter valued at approximately $75,000. Pin Oak Investment Advisors Inc. raised its stake in shares of HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock valued at $34,000 after acquiring an additional 498 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of HDFC Bank in the 3rd quarter valued at about $43,000. Finally, Bell Investment Advisors Inc grew its holdings in HDFC Bank by 260.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock worth $34,000 after acquiring an additional 1,002 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HDFC Bank

In related news, insider Ashish Parthasarthy sold 5,600 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider N Srinivasan sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares of the company's stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HDB shares. Wall Street Zen cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Zacks Research raised HDFC Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded shares of HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

HDFC Bank Price Performance

Shares of HDB stock opened at $23.26 on Friday. The firm has a market capitalization of $118.67 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.10 and a beta of 0.64. HDFC Bank Limited has a 12-month low of $22.66 and a 12-month high of $39.07. The business has a 50 day simple moving average of $24.83 and a 200 day simple moving average of $27.70.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. HDFC Bank had a return on equity of 13.14% and a net margin of 15.96%.The company had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $5 billion. On average, equities analysts anticipate that HDFC Bank Limited will post 1.67 EPS for the current fiscal year.

About HDFC Bank

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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