1832 Asset Management L.P. cut its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,198,179 shares of the bank's stock after selling 87,474 shares during the quarter. 1832 Asset Management L.P.'s holdings in HDFC Bank were worth $79,607,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in HDFC Bank by 6.8% during the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after purchasing an additional 153 shares in the last quarter. DMC Group LLC boosted its position in HDFC Bank by 2.5% during the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after purchasing an additional 181 shares in the last quarter. Platform Technology Partners boosted its position in HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after purchasing an additional 201 shares in the last quarter. Portside Wealth Group LLC boosted its position in HDFC Bank by 2.7% during the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after purchasing an additional 241 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its position in HDFC Bank by 0.4% during the fourth quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock worth $5,406,000 after purchasing an additional 305 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Strong Buy".
Read Our Latest Report on HDB
HDFC Bank Trading Down 0.5%
Shares of NYSE:HDB traded down $0.33 on Wednesday, hitting $72.34. The company had a trading volume of 1,544,266 shares, compared to its average volume of 2,531,020. The company has a market cap of $184.51 billion, a PE ratio of 22.19, a PEG ratio of 1.86 and a beta of 0.64. The business has a 50 day moving average of $75.80 and a 200 day moving average of $70.63. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61.
HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.
HDFC Bank Profile
(
Free Report)
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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