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

Truist Financial Corp lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 56.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,456 shares of the bank’s stock after buying 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.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of HDFC Bank by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after purchasing an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC increased its stake in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares during the period. Vontobel Holding Ltd. lifted its holdings in HDFC Bank by 3.6% during the 2nd quarter. Vontobel Holding Ltd. now owns 169,608 shares of the bank’s stock valued at $13,004,000 after buying an additional 5,877 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in HDFC Bank by 10.6% in the 2nd quarter. Blair William & Co. IL now owns 8,219 shares of the bank’s stock valued at $630,000 after buying an additional 785 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.3%

Shares of HDFC Bank stock opened at $34.43 on Friday. The company has a market cap of $175.64 billion, a P/E ratio of 20.68, a PEG ratio of 1.38 and a beta of 0.57. The firm’s 50 day moving average price is $34.45 and its 200-day moving average price is $35.66. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81.

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. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The company had revenue of $16.48 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HDB has been the subject of several research analyst reports. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, HDFC Bank has a consensus 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).