Fifth Third Bancorp Grows Stock Position in HDFC Bank Limited $HDB

Fifth Third Bancorp boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 92.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,129 shares of the bank’s stock after acquiring an additional 53,855 shares during the quarter. Fifth Third Bancorp’s holdings in HDFC Bank were worth $3,830,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of HDFC Bank by 104.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after purchasing an additional 9,808,890 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in HDFC Bank by 150.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after buying an additional 6,963,646 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of HDFC Bank by 19.0% during the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after acquiring an additional 1,692,243 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of HDFC Bank by 89.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock valued at $348,741,000 after acquiring an additional 4,810,042 shares during the period. Finally, C WorldWide Group Holding A S increased its stake in shares of HDFC Bank by 133.0% in the 3rd quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock valued at $319,834,000 after purchasing an additional 5,345,005 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE HDB opened at $33.33 on Thursday. The business has a fifty day moving average price of $34.06 and a 200 day moving average price of $35.32. The company has a market cap of $170.02 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.37 and a beta of 0.57. HDFC Bank Limited has a one year low of $29.23 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last released its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $16.48 billion during the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, HDFC Bank currently has a consensus rating of “Hold”.

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).