S Bank Fund Management Ltd Takes $3.99 Million Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• S Bank Fund Management Ltd has acquired a new position in HDFC Bank Limited, purchasing 60,000 shares valued at approximately $3.986 million during the first quarter.
• Other institutional investors have significantly increased their stakes in HDFC Bank, with Larson Financial Group LLC boosting its holdings by over 1,200% during the same period.
• HDFC Bank recently reported an EPS of $0.74, slightly missing the consensus estimate, while its stock opened at $73.85 with a market cap of $188.37 billion.

S Bank Fund Management Ltd purchased a new position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,000 shares of the bank's stock, valued at approximately $3,986,000.

Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 202,032 shares during the period. Temasek Holdings Private Ltd increased its holdings 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 worth $546,500,000 after purchasing an additional 190,566 shares during the period. Royal Bank of Canada increased its holdings 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 worth $466,629,000 after purchasing an additional 2,196,315 shares during the period. Bank of America Corp DE increased its holdings 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 worth $407,006,000 after purchasing an additional 1,368,365 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in HDFC Bank by 32.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,250,093 shares of the bank's stock worth $415,256,000 after purchasing an additional 1,545,639 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Up 1.5%

NYSE:HDB traded up $1.09 during mid-day trading on Friday, reaching $74.94. 1,654,155 shares of the stock were exchanged, compared to its average volume of 1,836,277. HDFC Bank Limited has a 1 year low of $57.78 and a 1 year high of $79.61. The company has a 50 day simple moving average of $75.94 and a 200-day simple moving average of $69.98. The stock has a market capitalization of $191.15 billion, a P/E 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 posted 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). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. As a group, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.