HDFC Bank Limited $HDB Stock Holdings Raised by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554,950 shares of the bank’s stock after purchasing an additional 34,015 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in HDFC Bank were worth $12,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HDB. Ritholtz Wealth Management grew its stake 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 valued at $539,000 after purchasing an additional 1,418 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of HDFC Bank by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,238,901 shares of the bank’s stock valued at $51,383,000 after purchasing an additional 21,238 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of HDFC Bank by 5,236.6% during the third quarter. Pictet Asset Management Holding SA now owns 469,621 shares of the bank’s stock worth $10,491,000 after purchasing an additional 460,821 shares during the last quarter. May Hill Capital LLC raised its stake in shares of HDFC Bank by 6.4% during the third quarter. May Hill Capital LLC now owns 9,911 shares of the bank’s stock worth $221,000 after purchasing an additional 598 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of HDFC Bank by 8.7% during the third quarter. Pzena Investment Management LLC now owns 1,754,255 shares of the bank’s stock worth $39,190,000 after purchasing an additional 140,779 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDFC Bank stock opened at $25.75 on Friday. HDFC Bank Limited has a 1-year low of $21.36 and a 1-year high of $37.35. The company has a market cap of $132.10 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. The stock’s 50 day moving average price is $23.00 and its 200 day moving average price is $25.54.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $8.20 billion during 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%. On average, equities research analysts anticipate that HDFC Bank Limited will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HDB shares. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. The Goldman Sachs Group initiated coverage on shares of HDFC Bank in a research report on Friday, August 21st. They set a “buy” rating for the company. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Finally, HSBC downgraded shares of HDFC Bank from a “buy” rating to a “hold” rating and lowered their target price for the company from $30.80 to $26.10 in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, HDFC Bank currently has a consensus rating of “Hold” and a consensus target price of $26.10.

HDFC Bank Company 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.