PNC Financial Services Group Inc. Has $5.76 Million Stake in HDFC Bank Limited (NYSE:HDB)

PNC Financial Services Group Inc. lowered its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,664 shares of the bank's stock after selling 10,212 shares during the quarter. PNC Financial Services Group Inc.'s holdings in HDFC Bank were worth $5,758,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after purchasing an additional 426 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of HDFC Bank in the 1st quarter valued at about $55,000. Pinnacle Bancorp Inc. increased its position in HDFC Bank by 109.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after buying an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. raised its stake in HDFC Bank by 233.0% during the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analyst Weigh In

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

HDFC Bank Trading Up 0.2%

NYSE HDB opened at $75.86 on Thursday. The company has a market cap of $192.10 billion, a P/E ratio of 23.27, a PEG ratio of 1.89 and a beta of 0.64. The company has a fifty day simple moving average of $76.10 and a 200 day simple moving average of $69.17. HDFC Bank Limited has a 12-month low of $57.78 and a 12-month high of $79.61.

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 analysts' consensus estimates of $0.75 by ($0.01). The business 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%. Sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

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.

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