Truist Financial Corp Buys 24,271 Shares of HDFC Bank Limited $HDB

Truist Financial Corp increased its stake in HDFC Bank Limited (NYSE:HDB) by 56.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,456 shares of the bank’s stock after purchasing an additional 24,271 shares during the quarter. Truist Financial Corp’s holdings in HDFC Bank were worth $2,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HDB. Robeco Institutional Asset Management B.V. increased its position 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 valued at $396,312,000 after acquiring an additional 6,963,646 shares during the last quarter. Massachusetts Financial Services Co. MA grew 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 valued at $348,741,000 after purchasing an additional 4,810,042 shares during the period. PineStone Asset Management Inc. increased its position in shares of HDFC Bank by 100.4% during the 3rd quarter. PineStone Asset Management Inc. now owns 8,163,734 shares of the bank’s stock valued at $278,873,000 after purchasing an additional 4,089,267 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of HDFC Bank by 97.1% in the 3rd quarter. Baillie Gifford & Co. now owns 6,806,818 shares of the bank’s stock worth $232,521,000 after purchasing an additional 3,353,109 shares during the period. Finally, Trinity Street Asset Management LLP boosted its holdings in shares of HDFC Bank by 88.0% in the third quarter. Trinity Street Asset Management LLP now owns 6,133,600 shares of the bank’s stock worth $209,524,000 after buying an additional 2,870,400 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

NYSE:HDB opened at $34.43 on Friday. The firm has a market capitalization of $175.64 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.38 and a beta of 0.57. The business has a 50 day simple moving average of $34.45 and a 200-day simple moving average of $35.66. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB) last released its quarterly 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 company had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. As a group, analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

HDFC Bank Company 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).