North of South Capital LLP Acquires 55,175 Shares of HDFC Bank Limited $HDB

North of South Capital LLP increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,648,442 shares of the bank’s stock after acquiring an additional 55,175 shares during the period. HDFC Bank comprises about 2.5% of North of South Capital LLP’s investment portfolio, making the stock its 12th biggest position. North of South Capital LLP’s holdings in HDFC Bank were worth $36,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. boosted its holdings in HDFC Bank by 0.6% during the third quarter. Mawer Investment Management Ltd. now owns 2,639,207 shares of the bank’s stock valued at $58,960,000 after purchasing an additional 14,498 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of HDFC Bank by 27.6% in the 3rd quarter. Aberdeen Group plc now owns 1,731,545 shares of the bank’s stock worth $38,683,000 after buying an additional 374,598 shares in the last quarter. Letko Brosseau & Associates Inc. raised its holdings in shares of HDFC Bank by 6.5% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 554,950 shares of the bank’s stock worth $12,398,000 after buying an additional 34,015 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of HDFC Bank by 6.2% in the 3rd quarter. Ritholtz Wealth Management now owns 24,128 shares of the bank’s stock worth $539,000 after buying an additional 1,418 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 21,238 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

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

HDFC Bank Stock Up 0.6%

NYSE:HDB traded up $0.15 on Friday, reaching $25.86. The stock had a trading volume of 4,969,231 shares, compared to its average volume of 8,990,541. The company has a market capitalization of $132.72 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.42 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $21.36 and a 1-year high of $37.35. The stock has a fifty day moving average price of $23.05 and a 200-day moving average price of $25.51.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 17th. The bank reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $4.95 billion. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. Sell-side analysts predict that HDFC Bank Limited will post 1.65 earnings per share for the current fiscal year.

HDFC Bank 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.