American Century Companies Inc. Sells 157,653 Shares of HDFC Bank Limited $HDB

Key Points

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American Century Companies Inc. cut its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 12.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,117,102 shares of the bank's stock after selling 157,653 shares during the quarter. American Century Companies Inc.'s holdings in HDFC Bank were worth $74,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. GQG Partners LLC lifted its stake in HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock worth $1,076,128,000 after purchasing an additional 8,313,645 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of HDFC Bank by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock worth $638,934,000 after acquiring an additional 202,032 shares during the last quarter. Temasek Holdings Private Ltd lifted its holdings in shares of HDFC Bank by 2.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock worth $546,500,000 after acquiring an additional 190,566 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after acquiring an additional 2,196,315 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of HDFC Bank by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock worth $407,006,000 after acquiring an additional 1,368,365 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

HDFC Bank Stock Performance

NYSE:HDB traded down $1.4480 during trading hours on Friday, reaching $73.9720. The company's stock had a trading volume of 2,304,424 shares, compared to its average volume of 1,541,077. The firm has a market capitalization of $188.68 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.93 and a beta of 0.64. The firm has a 50-day simple moving average of $75.87 and a 200-day simple moving average of $70.41. HDFC Bank Limited has a 1 year low of $57.78 and a 1 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 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Company 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.