HDFC Bank Limited $HDB Holdings Reduced by Raymond James Financial Inc.

Raymond James Financial Inc. cut its stake in HDFC Bank Limited (NYSE:HDB) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,599 shares of the bank’s stock after selling 9,859 shares during the period. Raymond James Financial Inc.’s holdings in HDFC Bank were worth $40,435,000 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. GQG Partners LLC boosted its holdings in shares of HDFC Bank by 105.5% in the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock valued at $1,076,128,000 after acquiring an additional 8,313,645 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in HDFC Bank by 6,502.2% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank’s stock valued at $389,887,000 after purchasing an additional 5,779,375 shares during the last quarter. Nuveen LLC acquired a new stake in HDFC Bank during the first quarter valued at approximately $178,342,000. Royal Bank of Canada lifted its stake in HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank’s stock valued at $466,629,000 after purchasing an additional 2,196,315 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in HDFC Bank by 81.3% during the first quarter. National Bank of Canada FI now owns 3,483,173 shares of the bank’s stock valued at $231,422,000 after purchasing an additional 1,561,505 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $73.9720 on Friday. The company has a market cap of $188.68 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64. HDFC Bank Limited has a 52 week low of $57.78 and a 52 week high of $79.61. The firm has a 50 day simple moving average of $75.87 and a 200 day simple moving average of $70.41.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. On average, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.