Rathbones Group PLC Has $16.05 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• Rathbones Group PLC has increased its stake in HDFC Bank Limited by 8.3%, now owning 241,499 shares valued at approximately $16 million.
• Multiple hedge funds, including Larson Financial Group and Cullen Frost Bankers Inc., have also significantly increased their holdings in HDFC Bank during the first quarter.
• Analysts have upgraded HDFC Bank's rating from "sell" to "hold," indicating a shift in market sentiment towards the bank's stock.

Rathbones Group PLC raised its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,499 shares of the bank's stock after purchasing an additional 18,419 shares during the period. Rathbones Group PLC's holdings in HDFC Bank were worth $16,045,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in HDFC Bank in the 1st quarter valued at about $178,342,000. Coronation Fund Managers Ltd. lifted its holdings in shares of HDFC Bank by 0.7% during the 1st quarter. Coronation Fund Managers Ltd. now owns 222,616 shares of the bank's stock worth $14,791,000 after acquiring an additional 1,487 shares during the period. Invesco Ltd. lifted its holdings in shares of HDFC Bank by 1.6% during the 1st quarter. Invesco Ltd. now owns 6,048,960 shares of the bank's stock worth $401,893,000 after acquiring an additional 96,065 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of HDFC Bank by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock worth $638,934,000 after acquiring an additional 202,032 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of HDFC Bank by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,318,530 shares of the bank's stock worth $87,603,000 after acquiring an additional 36,646 shares during the period. Institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded up $1.09 on Friday, reaching $74.94. 1,654,155 shares of the stock were exchanged, compared to its average volume of 1,836,277. The firm's 50 day moving average is $75.94 and its 200-day moving average is $69.98. HDFC Bank Limited has a one year low of $57.78 and a one year high of $79.61. The firm has a market cap of $191.15 billion, a PE ratio of 22.99, a P/E/G ratio of 1.87 and a beta of 0.64.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 EPS 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.