Perpetual Ltd Buys 1,961,566 Shares of HDFC Bank Limited $HDB

Key Points

• Perpetual Ltd more than doubled its HDFC Bank stake in the third quarter, buying 1,961,566 shares to reach 3,518,236 shares valued at approximately $78.6 million.
• Several other institutional investors also increased their positions, bringing institutional ownership of HDFC Bank to 17.61%.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $26.10. HDFC Bank recently exceeded quarterly EPS expectations, reporting $0.40 versus the $0.38 consensus estimate.

Perpetual Ltd increased its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 126.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,518,236 shares of the bank's stock after buying an additional 1,961,566 shares during the quarter. HDFC Bank comprises approximately 1.2% of Perpetual Ltd's holdings, making the stock its 24th largest position. Perpetual Ltd owned 0.07% of HDFC Bank worth $78,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Elliott Investment Management L.P. lifted its stake in HDFC Bank by 267.7% in the first quarter. Elliott Investment Management L.P. now owns 797,085 shares of the bank's stock valued at $19,831,000 after buying an additional 580,329 shares during the last quarter. KBC Group NV boosted its holdings in shares of HDFC Bank by 26.9% during the first quarter. KBC Group NV now owns 404,884 shares of the bank's stock valued at $10,074,000 after acquiring an additional 85,882 shares during the period. ABN Amro Investment Solutions boosted its holdings in shares of HDFC Bank by 66.0% during the first quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank's stock valued at $37,294,000 after acquiring an additional 595,912 shares during the period. Raiffeisen Bank International AG boosted its holdings in shares of HDFC Bank by 999.2% during the second quarter. Raiffeisen Bank International AG now owns 756,000 shares of the bank's stock valued at $19,588,000 after acquiring an additional 687,223 shares during the period. Finally, XY Capital Ltd grew its position in shares of HDFC Bank by 143.5% during the second quarter. XY Capital Ltd now owns 517,975 shares of the bank's stock worth $13,379,000 after acquiring an additional 305,215 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on HDB shares. Zacks Research raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. Wall Street Zen cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Weiss Ratings downgraded HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. HSBC downgraded HDFC Bank from a "buy" rating to a "hold" rating and cut their target price for the company from $30.80 to $26.10 in a research note on Monday, August 31st. Finally, The Goldman Sachs Group assumed coverage on HDFC Bank in a research report on Friday, August 21st. They set a "buy" rating for the company. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.10.

HDFC Bank Stock Performance

Shares of HDB stock opened at $22.54 on Tuesday. HDFC Bank Limited has a 1 year low of $21.70 and a 1 year high of $37.45. The business's fifty day moving average is $22.95 and its 200-day moving average is $24.31. The stock has a market cap of $115.63 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $9.01 billion for the quarter, compared to analysts' expectations of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. Equities research analysts predict that HDFC Bank Limited will post 1.64 earnings per share for the current year.

HDFC Bank News Roundup

Here are the key news stories impacting HDFC Bank this week:

• Neutral Sentiment: HDFC Bank is among 129 companies expected to report fiscal second-quarter results this week. Investors may focus on loan growth, asset quality, net interest margins and management commentary for signs of improving fundamentals. Earnings tracker
• Neutral Sentiment: A value-focused comparison from Zacks weighs HDB against Woori Bank, highlighting HDFC Bank’s relevance to investors seeking exposure to foreign banks. The article does not announce a material company-specific change. WF versus HDB value comparison
• Neutral Sentiment: Market coverage places HDFC Bank’s equity value near $114 billion and its European-traded shares around €20, providing valuation context but no new operating catalyst. HDFC Bank valuation coverage

HDFC Bank Company Profile

HDFC Bank Limited is a financial services company headquartered in Mumbai, India. Established in 1994, it operates as a private-sector commercial bank serving individuals, businesses, institutions and government-related entities.

The bank offers a broad range of products and services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, investment products and insurance distribution.

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