HDFC Bank Limited $HDB Shares Acquired by Rathbones Group PLC

Rathbones Group PLC lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,262,790 shares of the bank’s stock after acquiring an additional 676,976 shares during the period. Rathbones Group PLC owned 0.06% of HDFC Bank worth $81,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. NewEdge Advisors LLC grew its position in HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of HDFC Bank by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after buying an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of HDFC Bank by 24.5% during the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of HDFC Bank by 464.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after buying an additional 1,221 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of HDFC Bank by 29.3% during the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after buying an additional 11,689 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the business’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 transaction of $87,200.00. Following the transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

HDB has been the topic of several recent research reports. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

HDFC Bank Stock Down 0.2%

Shares of NYSE:HDB opened at $23.89 on Monday. The company has a market cap of $121.87 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.13 and a beta of 0.65. The firm’s 50-day simple moving average is $24.75 and its 200-day simple moving average is $27.32. HDFC Bank Limited has a fifty-two week low of $22.66 and a fifty-two week high of $38.72.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. On average, research analysts forecast that HDFC Bank Limited will post 1.67 EPS for the current year.

HDFC Bank 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).