HDFC Bank Limited $HDB Stock Position Raised by Northcape Capital Pty Ltd

Northcape Capital Pty Ltd boosted its stake in HDFC Bank Limited (NYSE:HDB) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,978,603 shares of the bank’s stock after purchasing an additional 284,954 shares during the period. HDFC Bank makes up approximately 17.3% of Northcape Capital Pty Ltd’s holdings, making the stock its 3rd largest position. Northcape Capital Pty Ltd’s holdings in HDFC Bank were worth $128,597,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HDB. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

HDFC Bank Stock Performance

NYSE:HDB opened at $23.45 on Tuesday. The stock has a 50-day simple moving average of $24.72 and a two-hundred day simple moving average of $26.94. HDFC Bank Limited has a 52-week low of $22.66 and a 52-week high of $37.85. The firm has a market capitalization of $120.32 billion, a PE ratio of 13.79, a P/E/G ratio of 1.11 and a beta of 0.65.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%.The business had revenue of $14.02 billion during the quarter, compared to analysts’ expectations of $5 billion. Equities analysts forecast that HDFC Bank Limited will post 1.67 earnings per share for the current fiscal 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).