Legal & General Group Plc Lowers Stock Position in HDFC Bank Limited $HDB

Legal & General Group Plc trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,898 shares of the bank’s stock after selling 16,194 shares during the quarter. Legal & General Group Plc’s holdings in HDFC Bank were worth $46,831,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HDB. New Vernon Capital Holdings II LLC purchased a new position in HDFC Bank during the 1st quarter worth $1,546,956,000. GQG Partners LLC boosted its stake in shares of HDFC Bank by 105.5% during the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after buying an additional 8,313,645 shares during the period. Royal Bank of Canada grew its holdings in shares of HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after buying an additional 3,907,637 shares during the last quarter. JPMorgan Chase & Co. increased its position in HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank’s stock valued at $638,934,000 after acquiring an additional 202,032 shares during the period. Finally, Temasek Holdings Private Ltd raised its stake in HDFC Bank by 3.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 8,895,662 shares of the bank’s stock valued at $591,028,000 after acquiring an additional 337,874 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.7%

Shares of HDB opened at $36.13 on Wednesday. The stock’s 50 day moving average is $35.76 and its two-hundred day moving average is $36.74. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The firm has a market capitalization of $184.33 billion, a PE ratio of 21.97, a P/E/G ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on HDB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, HDFC Bank presently has an average rating of “Moderate Buy”.

HDFC Bank Company Profile

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.