Temasek Holdings Private Ltd Acquires 1,686,276 Shares of HDFC Bank Limited $HDB

Temasek Holdings Private Ltd grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 15.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,559,656 shares of the bank’s stock after buying an additional 1,686,276 shares during the quarter. HDFC Bank accounts for about 1.0% of Temasek Holdings Private Ltd’s holdings, making the stock its 20th biggest position. Temasek Holdings Private Ltd’s holdings in HDFC Bank were worth $312,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. NewEdge Advisors LLC increased its holdings in HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after purchasing an additional 13,435 shares during the period. Sivia Capital Partners LLC raised its stake in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after purchasing an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after buying an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of HDFC Bank by 29.3% in the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after buying an additional 11,689 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Insider Activity at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the transaction, the insider owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Key HDFC Bank News

Here are the key news stories impacting HDFC Bank this week:

• Positive Sentiment: HDFC Bank reported strong operating growth in Q1, with revenue of $9.01 billion and profit up 4.98% year over year, supported by healthy interest income growth and continued loan/deposit expansion. HDFC Bank Q1 profit rises 4.98% to $1.97b as on interest income growth
• Positive Sentiment: Some commentary suggests investors may be overreacting, with analysts pointing to HDFC Bank as a possible “buy the dip” opportunity after the selloff. India’s private-sector banks sold off on NIM fears. Ignore the panic and buy the dip in HDFC stock here
• Neutral Sentiment: The bank’s earnings beat on revenue was offset by a small EPS miss versus expectations, which likely contributed to the mixed market reaction. HDFC Bank earnings report and conference call
• Negative Sentiment: Investors were disappointed by narrowing net interest margins and softer core income trends, which overshadowed the bank’s modest profit growth and drove the stock lower. HDFC Bank ADR Drops as Margin Compression Overshadows Quarterly Growth
• Negative Sentiment: A securities-fraud investigation was announced, creating an additional headline risk for HDB and adding to investor caution. Securities Fraud Investigation Into HDFC Bank Limited (HDB) Announced

HDFC Bank Stock Up 0.7%

HDB stock opened at $23.77 on Wednesday. The stock has a 50-day simple moving average of $24.90 and a two-hundred day simple moving average of $27.92. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81. The firm has a market capitalization of $121.29 billion, a PE ratio of 13.99, a PEG ratio of 1.10 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. The firm had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $5 billion. On average, equities research analysts anticipate that HDFC Bank Limited will post 1.69 EPS for the current fiscal year.

Analyst Ratings Changes

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

HDFC Bank Company 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).