KBC Group NV Increases Stock Holdings in HDFC Bank Limited $HDB

KBC Group NV raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 26.9% during the first quarter, HoldingsChannel reports. The firm owned 404,884 shares of the bank’s stock after purchasing an additional 85,882 shares during the quarter. KBC Group NV’s holdings in HDFC Bank were worth $10,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Snowden Capital Advisors LLC raised its position in shares of HDFC Bank by 5.8% in the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after acquiring an additional 311 shares during the period. Sequoia Financial Advisors LLC increased its position in HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after purchasing an additional 345 shares during the last quarter. Flputnam Investment Management Co. raised its position in shares of HDFC Bank by 2.6% during the 4th quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock valued at $525,000 after buying an additional 361 shares during the period. Cullen Frost Bankers Inc. raised its position in HDFC Bank by 19.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock valued at $85,000 after purchasing an additional 384 shares during the period. Finally, Sivia Capital Partners LLC raised its holdings in HDFC Bank by 3.0% in the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock valued at $493,000 after buying an additional 397 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Down 2.2%

HDB opened at $23.22 on Thursday. The business has a 50 day moving average price of $24.89 and a two-hundred day moving average price of $27.83. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81. The company has a market cap of $118.45 billion, a PE ratio of 13.66, a P/E/G ratio of 1.12 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm 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 13.14%. As a group, sell-side analysts expect that HDFC Bank Limited will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider directly owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

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

About HDFC Bank

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).