HDFC Bank Limited $HDB Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 81.7% during the third quarter, HoldingsChannel.com reports. The firm owned 84,843 shares of the bank’s stock after purchasing an additional 38,155 shares during the period. Federated Hermes Inc.’s holdings in HDFC Bank were worth $2,898,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after buying an additional 6,963,646 shares in the last quarter. Schroder Investment Management Group lifted its position 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 valued at $813,830,000 after acquiring an additional 1,692,243 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 worth $348,741,000 after acquiring an additional 4,810,042 shares in the last quarter. PineStone Asset Management Inc. grew its holdings in shares of HDFC Bank by 100.4% in the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock worth $278,873,000 after acquiring an additional 4,089,267 shares during the period. Finally, Baillie Gifford & Co. increased its stake in HDFC Bank by 97.1% in the 3rd quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock valued at $232,521,000 after purchasing an additional 3,353,109 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.7%

Shares of NYSE:HDB opened at $33.55 on Wednesday. The company has a market capitalization of $171.13 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.37 and a beta of 0.57. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The stock’s fifty day simple moving average is $34.61 and its 200-day simple moving average is $35.71.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on HDB. 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 upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

About HDFC Bank

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).