Cresset Asset Management LLC Sells 48,279 Shares of HDFC Bank Limited (NYSE:HDB)

Cresset Asset Management LLC lowered its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 76.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,969 shares of the bank's stock after selling 48,279 shares during the quarter. Cresset Asset Management LLC's holdings in HDFC Bank were worth $956,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HDB. Diversified Trust Co purchased a new position in shares of HDFC Bank in the 4th quarter worth $206,000. Aprio Wealth Management LLC bought a new position in HDFC Bank in the fourth quarter valued at about $257,000. Sivia Capital Partners LLC boosted its position in HDFC Bank by 10.8% in the fourth quarter. Sivia Capital Partners LLC now owns 9,436 shares of the bank's stock worth $603,000 after purchasing an additional 923 shares during the last quarter. CCLA Investment Management grew its stake in shares of HDFC Bank by 9.1% during the 4th quarter. CCLA Investment Management now owns 1,929,091 shares of the bank's stock valued at $123,172,000 after purchasing an additional 161,368 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of HDFC Bank by 823.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 59,942 shares of the bank's stock valued at $3,828,000 after purchasing an additional 53,449 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $72.46 on Tuesday. The stock has a 50-day moving average price of $67.20 and a 200 day moving average price of $64.24. The stock has a market capitalization of $183.50 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.12 and a beta of 0.63. HDFC Bank Limited has a 12-month low of $54.99 and a 12-month high of $75.37. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

HDB has been the topic of a number of research reports. Nomura raised shares of HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Monday, May 5th.

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.

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