GQG Partners LLC recently announced the acquisition of new stake in HDFC Bank Limited (NYSE:HDB). The institutional investor has increased its shareholding in the Financial company by 5.93% to 21.07 million shares with purchase of 1.18 million shares. This fresh investment now brings its stake to 1.13% valued currently at $1.43 billion. In addition, JPMorgan Investment Management, I raised its holdings by 0.49 million to 16.62 million shares. And Harding Loevner LP has lifted its position by 2.82% or 0.36 million shares – to 13.3 million shares.
With over 2.26 million HDFC Bank Limited (HDB) shares trading Monday and a closing price of $63.67 on the day, the dollar volume was approximately $143.97 million. The shares have shown a negative half year performance of -1.21% and its price on 03/13/23 lost nearly -1.16%. Currently, there are 1.85B common shares owned by the public and among those 1.83B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 38 analysts who have offered their price forecasts for HDB have a consensus price objective of $70.11. The analysts have set the share’s price value over the next 12 months at a high of $80.13 and a low of $58.85. The average price target is 20.41% above its recent price level and a downside to the estimated low will see the stock lose -8.19% over that period. But an upside of 20.54% will see the stock hit the forecast high price target while median target price for the stock is $69.96.
The top 3 mutual fund holders in HDFC Bank Limited are AM One Global ESG High Quality Gr, American Funds EuroPacific Growth, and JPMorgan Funds – Emerging Markets. AM One Global ESG High Quality Gr owns 8.42 million shares of the company’s stock, all valued at over $569.76 million. The company bought an additional 0.48 million shares recently to bring their total holdings to about 0.45% of the shares outstanding. American Funds EuroPacific Growth sold -0.42 million shares to see its total holdings shrink to 4.06 million shares valued at over $274.42 million and representing 0.22% of the shares outstanding. JPMorgan Funds – Emerging Markets sold -0.23 million shares to bring its total holdings to over 3.37 million shares at a value of $228.27 million. JPMorgan Funds – Emerging Markets now owns shares totaling to 0.18% of the shares outstanding.
Shares of HDFC Bank Limited (NYSE: HDB) opened at $63.22, down -$1.2 from a prior closing price of $64.42. However, the script later moved the day high at 64.29, down -1.16%. The company’s stock has a 5-day price change of -6.81% and -6.41% over the past three months. HDB shares are trading -6.93% year to date (YTD), with the 12-month market performance up to 11.06% higher. It has a 12-month low price of $50.61 and touched a high of $71.76 over the same period. HDB has an average intraday trading volume of 1.32 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.09%, -5.97%, and 0.55% respectively.
Institutional ownership of HDFC Bank Limited (NYSE: HDB) shares accounts for 18.30% of the company’s 1.85B shares outstanding. Mutual fund holders own 11.90%, while other institutional holders and individual stakeholders account for 6.41% and — respectively.
It has a market capitalization of $109.72B and a beta (3y monthly) value of 0.75. The stock’s trailing 12-month PE ratio is 25.09, while the earnings-per-share (ttm) stands at $2.54. The company has a PEG of 1.43 and the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.16% over the week and 1.57% over the month.
Analysts forecast that HDFC Bank Limited (HDB) will achieve an EPS of $0.7 for the current quarter, $0.82 for the next quarter and $3.44 for 2024. The lowest estimate earnings-per-share for the quarter is $0.7 while analysts give the company a high EPS estimate of $0.7. Comparatively, EPS for the current quarter was $0.66 a year ago. Earnings per share for the fiscal year are expected to increase by 17.60%, and 17.30% over the next financial year. EPS should shrink at an annualized rate of 17.50% over the next five years, compared to 20.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 38 brokerage firm advisors rate HDFC Bank Limited (HDB) as a “Strong Buy” at a consensus score of 1.00. Specifically, 32 Wall Street analysts polled rate the stock as a buy, while 3 of the 38 advise that investors “hold,” and 0 rated it as a “Sell.”
Goldman on their part issued Buy rating on August 02, 2016.
