HDFC Bank Limited $HDB Position Increased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in HDFC Bank by 85.5%, now owning 50,926 shares valued at $3.38 million after acquiring an additional 23,469 shares in the first quarter.
• HDFC Bank shares experienced a 1.5% increase in value, with the stock currently priced at $74.94, while having a market capitalization of $191.15 billion.
• Analysts upgraded HDFC Bank's rating from "sell" to "hold", reflecting a change in market sentiment towards the bank's performance.

Vestmark Advisory Solutions Inc. boosted its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 85.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,926 shares of the bank's stock after purchasing an additional 23,469 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in HDFC Bank were worth $3,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HDB. GQG Partners LLC boosted its holdings in shares of HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after buying an additional 8,313,645 shares during the period. JPMorgan Chase & Co. lifted its holdings in HDFC Bank by 2.1% in the first 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 last quarter. Temasek Holdings Private Ltd boosted its stake in HDFC Bank by 2.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock valued at $546,500,000 after acquiring an additional 190,566 shares during the period. Royal Bank of Canada grew its holdings in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after purchasing an additional 2,196,315 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of 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. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Buy".

HDFC Bank Stock Performance

Shares of HDB stock traded up $0.3250 on Wednesday, reaching $75.1850. 1,153,697 shares of the company's stock traded hands, compared to its average volume of 2,554,537. HDFC Bank Limited has a 12-month low of $57.78 and a 12-month high of $79.61. The company has a market capitalization of $191.78 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64. The business's 50 day moving average price is $75.90 and its two-hundred day moving average price is $70.18.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.60% and a net margin of 14.49%.The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. Research analysts predict that HDFC Bank Limited will post 3.03 earnings per share 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.