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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of 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 buying an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after buying an additional 507 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of HDFC Bank in the first quarter worth about $55,000. Pinnacle Bancorp Inc. lifted its holdings in shares of HDFC Bank by 109.7% in the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after buying an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of HDFC Bank by 233.0% in the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after buying an additional 629 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 1.5%

Shares of HDB stock traded up $1.09 during trading on Friday, hitting $74.94. The company had a trading volume of 1,654,155 shares, compared to its average volume of 1,836,277. The stock's 50-day moving average is $75.94 and its two-hundred day moving average is $69.91. The stock has a market capitalization of $191.15 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. HDFC Bank Limited has a 52 week low of $57.78 and a 52 week high of $79.61.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.03 billion. On average, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

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

HDFC Bank 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.