Rathbones Group PLC increased its stake in HDFC Bank Limited (NYSE:HDB – Free Report) by 26.2% in the first quarter, HoldingsChannel.com reports. The firm owned 3,262,790 shares of the bank’s stock after acquiring an additional 676,976 shares during the quarter. Rathbones Group PLC’s holdings in HDFC Bank were worth $81,178,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in HDB. Larson Financial Group LLC boosted its holdings in HDFC Bank by 90.4% during the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares in the last quarter. Axiom Investment Management LLC purchased a new position in HDFC Bank in the first quarter valued at about $32,000. Bell Investment Advisors Inc lifted its position in shares of HDFC Bank by 260.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,002 shares during the period. Pin Oak Investment Advisors Inc. lifted its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after acquiring an additional 498 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of HDFC Bank during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Finally, Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.
Insider Activity
In related news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.
HDFC Bank Trading Down 0.2%
NYSE:HDB opened at $23.89 on Monday. The company has a market capitalization of $121.87 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 1.13 and a beta of 0.65. The firm has a 50-day moving average price of $24.75 and a two-hundred day moving average price of $27.32. HDFC Bank Limited has a twelve month low of $22.66 and a twelve month high of $38.72.
HDFC Bank (NYSE:HDB – Get Free Report) last announced its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. On average, equities research analysts predict that HDFC Bank Limited will post 1.67 earnings per share for the current year.
HDFC Bank Company Profile
HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.
The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).
See Also
- Five stocks we like better than HDFC Bank
- 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story
- AbbVie Quietly Solved Its Biggest Problem—Now What?
- Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade
- Strategy’s Structural Strength: Hidden in a $8 Billion Illusion
Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB – Free Report).
Receive News & Ratings for HDFC Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank and related companies with MarketBeat.com's FREE daily email newsletter.
