HDFC Bank Limited $HDB Shares Sold by M&G PLC

M&G PLC lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 4.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,209,463 shares of the bank’s stock after selling 280,737 shares during the period. M&G PLC owned about 0.12% of HDFC Bank worth $136,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HDB. Elliott Investment Management L.P. increased its position in HDFC Bank by 267.7% during the first quarter. Elliott Investment Management L.P. now owns 797,085 shares of the bank’s stock worth $19,831,000 after buying an additional 580,329 shares during the period. KBC Group NV boosted its holdings in shares of HDFC Bank by 26.9% in the first quarter. KBC Group NV now owns 404,884 shares of the bank’s stock valued at $10,074,000 after acquiring an additional 85,882 shares during the period. ABN Amro Investment Solutions boosted its holdings in shares of HDFC Bank by 66.0% in the first quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank’s stock valued at $37,294,000 after acquiring an additional 595,912 shares during the period. Raiffeisen Bank International AG boosted its holdings in shares of HDFC Bank by 999.2% in the second quarter. Raiffeisen Bank International AG now owns 756,000 shares of the bank’s stock valued at $19,588,000 after acquiring an additional 687,223 shares during the period. Finally, XY Capital Ltd grew its position in shares of HDFC Bank by 143.5% during the second quarter. XY Capital Ltd now owns 517,975 shares of the bank’s stock worth $13,379,000 after acquiring an additional 305,215 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 2.8%

NYSE:HDB opened at $25.84 on Tuesday. The firm’s fifty day simple moving average is $22.82 and its 200-day simple moving average is $25.64. The stock has a market cap of $132.56 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $21.36 and a fifty-two week high of $37.35.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $4.95 billion. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. Equities analysts anticipate that HDFC Bank Limited will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

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

HDFC Bank 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.

HDFC Bank primarily serves the Indian market and also maintains a limited international presence.