Egerton Capital UK LLP Has $74.18 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Egerton Capital UK LLP reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116,493 shares of the bank’s stock after selling 24,018 shares during the quarter. HDFC Bank makes up approximately 0.9% of Egerton Capital UK LLP’s holdings, making the stock its 26th largest holding. Egerton Capital UK LLP’s holdings in HDFC Bank were worth $74,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Graney & King LLC acquired a new position in HDFC Bank in the fourth quarter valued at $38,000. Brown Brothers Harriman & Co. raised its holdings in shares of HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after purchasing an additional 240 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after acquiring an additional 507 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of HDFC Bank during the first quarter worth about $55,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Down 0.3%

HDB opened at $78.23 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $75.04 and a 200-day moving average price of $67.72. HDFC Bank Limited has a twelve month low of $57.24 and a twelve month high of $78.92. The stock has a market capitalization of $198.10 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.95 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.29% and a net margin of 14.49%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. Equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th.

About HDFC Bank

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.