Polen Capital Management LLC Has $43.26 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Key Points

• Polen Capital Management LLC reduced its stake in HDFC Bank Limited by 15.9%, selling 123,517 shares in the first quarter, now owning 651,063 shares valued at approximately $43.3 million.
• Major institutional investors such as Invesco Ltd. and JPMorgan Chase & Co. have increased their stakes in HDFC Bank, indicating ongoing interest from the investment community.
• HDFC Bank's latest earnings report showed an EPS of $0.74, slightly below the consensus estimate of $0.75, although its revenue exceeded expectations at $5.10 billion.

Polen Capital Management LLC cut its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 15.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 651,063 shares of the bank's stock after selling 123,517 shares during the quarter. Polen Capital Management LLC's holdings in HDFC Bank were worth $43,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HDB. Larson Financial Group LLC lifted its holdings in HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after buying an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in 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 buying an additional 507 shares during the last quarter. NBC Securities Inc. bought a new position in HDFC Bank during the 1st quarter worth approximately $55,000. Pinnacle Bancorp Inc. lifted its holdings in HDFC Bank by 109.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after buying an additional 443 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings 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 last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

HDFC Bank Trading Down 0.2%

HDB traded down $0.17 during trading hours on Thursday, hitting $73.83. The company's stock had a trading volume of 788,638 shares, compared to its average volume of 2,578,986. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week high of $79.61. The firm has a market capitalization of $188.32 billion, a PE ratio of 22.64, a PEG ratio of 1.84 and a beta of 0.64. The company has a 50-day simple moving average of $76.03 and a 200 day simple moving average of $69.70.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. Research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

About HDFC Bank

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.