HDFC Bank Limited $HDB Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 99.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,455,149 shares of the bank’s stock after purchasing an additional 2,224,576 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of HDFC Bank worth $152,188,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HDB. NewEdge Advisors LLC lifted its stake in HDFC Bank by 8.6% in the first 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 last quarter. Goldman Sachs Group Inc. increased its holdings 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 acquiring an additional 13,435 shares during the period. Sivia Capital Partners LLC lifted its position in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock valued at $601,000 after purchasing an additional 1,541 shares during the last quarter. Greenleaf Trust acquired a new position in HDFC Bank during the 2nd quarter valued at about $221,000. Finally, Hilltop National Bank bought a new position in HDFC Bank in the 2nd quarter worth about $233,000. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, HDFC Bank presently has an average rating of “Hold”.

HDFC Bank Trading Down 0.5%

Shares of HDB opened at $32.40 on Friday. The business’s 50-day moving average price is $34.71 and its 200 day moving average price is $35.79. The stock has a market capitalization of $165.30 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a 1-year low of $29.23 and a 1-year high of $39.81.

HDFC Bank (NYSE:HDB) last announced its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The company had revenue of $16.48 billion for the quarter, compared to the consensus estimate of $5.12 billion. On average, research analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current 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).