Aberdeen Group plc Sells 15,356 Shares of HDFC Bank Limited $HDB

Key Points

• Aberdeen Group plc has reduced its stake in HDFC Bank by 4.2%, selling 15,356 shares and now holding 352,128 shares worth $23.3 million.
• Other hedge funds have significantly increased their positions in HDFC Bank, with Larson Financial Group boosting its stake by 1,217.1% in the first quarter.
• Despite a slight drop in earnings per share against expectations, HDFC Bank has a consensus rating of "Strong Buy" from analysts, with expectations for a 3.03 EPS for the current year.

Aberdeen Group plc trimmed its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 352,128 shares of the bank's stock after selling 15,356 shares during the period. Aberdeen Group plc's holdings in HDFC Bank were worth $23,311,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HDB. Bank Pictet & Cie Europe AG boosted its holdings in HDFC Bank by 451.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after purchasing an additional 15,955 shares during the period. Mariner LLC boosted its holdings in HDFC Bank by 6.6% in the 4th quarter. Mariner LLC now owns 62,783 shares of the bank's stock valued at $4,009,000 after purchasing an additional 3,868 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of HDFC Bank by 8.4% during the 4th quarter. Guggenheim Capital LLC now owns 26,135 shares of the bank's stock worth $1,669,000 after acquiring an additional 2,019 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of HDFC Bank by 4,495.7% during the 4th quarter. NewEdge Advisors LLC now owns 10,754 shares of the bank's stock worth $687,000 after acquiring an additional 10,520 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of HDFC Bank by 2,739.2% during the 4th quarter. Marshall Wace LLP now owns 366,796 shares of the bank's stock worth $23,424,000 after acquiring an additional 353,877 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Strong Buy".

HDFC Bank Price Performance

NYSE:HDB traded up $0.39 during mid-day trading on Thursday, hitting $75.38. 1,008,451 shares of the company's stock were exchanged, compared to its average volume of 2,550,484. The business has a fifty day moving average price of $75.87 and a 200 day moving average price of $70.22. The company has a market cap of $192.27 billion, a PE ratio of 23.12, a P/E/G ratio of 1.91 and a beta of 0.64. HDFC Bank Limited has a one year low of $57.78 and a one year high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.