Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in HDFC Bank Limited (NYSE:HDB – Get Rating) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,600 shares of the bank's stock after selling 410 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in HDFC Bank were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of HDFC Bank by 5.2% in the second quarter. Principal Financial Group Inc. now owns 1,153,881 shares of the bank's stock worth $63,417,000 after purchasing an additional 56,869 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of HDFC Bank by 80.5% during the second quarter. O Shaughnessy Asset Management LLC now owns 42,904 shares of the bank's stock valued at $2,358,000 after acquiring an additional 19,135 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of HDFC Bank by 38.8% during the third quarter. Ritholtz Wealth Management now owns 13,246 shares of the bank's stock valued at $774,000 after acquiring an additional 3,704 shares during the last quarter. Brinker Capital Investments LLC increased its position in shares of HDFC Bank by 14.0% during the second quarter. Brinker Capital Investments LLC now owns 92,798 shares of the bank's stock valued at $5,100,000 after acquiring an additional 11,407 shares during the last quarter. Finally, Atria Investments LLC increased its position in shares of HDFC Bank by 10.7% during the second quarter. Atria Investments LLC now owns 47,323 shares of the bank's stock valued at $2,601,000 after acquiring an additional 4,569 shares during the last quarter. 17.50% of the stock is owned by hedge funds and other institutional investors.Get HDFC Bank alerts:
Wall Street Analysts Forecast Growth
Separately, StockNews.com began coverage on HDFC Bank in a research report on Wednesday, October 12th. They set a "hold" rating for the company.
HDFC Bank Stock PerformanceShares of HDB opened at $68.41 on Friday. The stock has a 50 day moving average of $66.89 and a 200 day moving average of $62.49. HDFC Bank Limited has a 12 month low of $50.61 and a 12 month high of $72.20. The company has a market capitalization of $126.46 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 1.19 and a beta of 0.81. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96.
HDFC Bank (NYSE:HDB – Get Rating) last announced its quarterly earnings data on Monday, October 17th. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. HDFC Bank had a return on equity of 16.60% and a net margin of 23.11%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.60 billion. As a group, sell-side analysts forecast that HDFC Bank Limited will post 2.91 earnings per share for the current year.
About HDFC Bank
HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company 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, overdrafts against fixed deposits, and sweep-in facilities.
- Get a free copy of the StockNews.com research report on HDFC Bank (HDB)
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