34,015 HDFC Bank Limited $HDB Shares Bought by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. boosted its position in HDFC Bank Limited (NYSE:HDB) by 6.5% during the third quarter, Holdings Channel.com reports. The fund owned 554,950 shares of the bank’s stock after purchasing an additional 34,015 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in HDFC Bank were worth $12,398,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HDB. Ritholtz Wealth Management lifted its holdings in shares of HDFC Bank by 6.2% during the 3rd quarter. Ritholtz Wealth Management now owns 24,128 shares of the bank’s stock valued at $539,000 after acquiring an additional 1,418 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in HDFC Bank by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,238,901 shares of the bank’s stock worth $51,383,000 after purchasing an additional 21,238 shares during the period. Pictet Asset Management Holding SA boosted its position in HDFC Bank by 5,236.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 469,621 shares of the bank’s stock worth $10,491,000 after purchasing an additional 460,821 shares during the period. May Hill Capital LLC increased its holdings in HDFC Bank by 6.4% in the 3rd quarter. May Hill Capital LLC now owns 9,911 shares of the bank’s stock valued at $221,000 after purchasing an additional 598 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in HDFC Bank by 8.7% in the 3rd quarter. Pzena Investment Management LLC now owns 1,754,255 shares of the bank’s stock valued at $39,190,000 after purchasing an additional 140,779 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 1.1%

Shares of HDFC Bank stock opened at $25.75 on Friday. The firm has a market cap of $132.10 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.44 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $21.36 and a fifty-two week high of $37.35. The business has a 50-day moving average price of $23.00 and a 200 day moving average price of $25.54.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $4.95 billion. As a group, equities research analysts anticipate that HDFC Bank Limited will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

HDB has been the subject of a number of recent research reports. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. The Goldman Sachs Group initiated coverage on shares of HDFC Bank in a research report on Friday, August 21st. They issued a “buy” rating for the company. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. HSBC lowered shares of HDFC Bank from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.80 to $26.10 in a research note on Monday, August 31st. Finally, Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, HDFC Bank currently has a consensus rating of “Hold” and an average target price of $26.10.

HDFC Bank Company Profile

HDFC Bank Limited is an India-based banking and financial services company headquartered in Mumbai. Incorporated in 1994, it began banking operations in 1995 and serves individuals, businesses and institutions across India. The bank offers savings and current accounts, deposits, loans, credit and debit cards, payment services, and digital banking. Its business also includes wholesale banking, treasury services and wealth management. In 2023, HDFC Limited, a housing finance company, merged with HDFC Bank, bringing its housing finance activities into the bank.