OneAscent Investment Solutions LLC Invests $944,000 in HDFC Bank Limited $HDB

Key Points

• OneAscent Investment Solutions LLC has acquired a new stake in HDFC Bank, purchasing 14,210 shares valued at approximately $944,000.
• Several other hedge funds have also increased their positions in HDFC Bank, with Bank Pictet & Cie Europe AG raising its stake by 451.3% in the last quarter.
• HDFC Bank's stock recently received an upgrade from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment.

OneAscent Investment Solutions LLC purchased a new position in HDFC Bank Limited (NYSE:HDB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,210 shares of the bank's stock, valued at approximately $944,000. HDFC Bank makes up 1.1% of OneAscent Investment Solutions LLC's portfolio, making the stock its 13th biggest holding.

Several other institutional investors also recently modified their holdings of the business. GQG Partners LLC grew its position in HDFC Bank by 105.5% during the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after purchasing an additional 8,313,645 shares during the last quarter. JPMorgan Chase & Co. grew its position in HDFC Bank by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after purchasing an additional 202,032 shares during the last quarter. Temasek Holdings Private Ltd grew its position in HDFC Bank by 2.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock valued at $546,500,000 after purchasing an additional 190,566 shares during the last quarter. Royal Bank of Canada grew its position in HDFC Bank by 43.0% during the 4th 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 last quarter. Finally, Bank of America Corp DE grew its position in HDFC Bank by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock valued at $407,006,000 after purchasing an additional 1,368,365 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Down 0.5%

Shares of NYSE HDB traded down $0.3410 during trading on Tuesday, reaching $75.1090. 487,596 shares of the company traded hands, compared to its average volume of 2,556,053. The firm has a 50 day simple moving average of $75.93 and a 200-day simple moving average of $70.15. The stock has a market capitalization of $191.58 billion, a PE ratio of 23.02, a P/E/G ratio of 1.87 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last issued 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). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. As a group, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current 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. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

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.