Amundi Sells 149,728 Shares of HDFC Bank Limited $HDB

Key Points

• Amundi cut its HDFC Bank stake by 41.3% in the first quarter, selling 149,728 shares and retaining 212,792 shares valued at approximately $5.29 million.
• HDFC Bank recently exceeded quarterly earnings expectations, reporting $0.40 in EPS versus the $0.38 consensus and $9.01 billion in revenue. Analysts expect full-year EPS of $1.67.
• HDB shares opened at $23.88, near the lower end of their 12-month range, while analyst sentiment remains cautious with a consensus “Hold” rating.

Amundi decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,792 shares of the bank's stock after selling 149,728 shares during the period. Amundi's holdings in HDFC Bank were worth $5,294,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Larson Financial Group LLC increased its holdings in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock worth $29,000 after purchasing an additional 403 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock valued at $34,000 after buying an additional 1,002 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of HDFC Bank by 100.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock valued at $34,000 after buying an additional 498 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in HDFC Bank during the third quarter worth $43,000. Finally, BOCHK Asset Management Ltd grew its holdings in HDFC Bank by 125.0% during the fourth quarter. BOCHK Asset Management Ltd now owns 1,800 shares of the bank's stock worth $66,000 after buying an additional 1,000 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Down 0.0%

HDFC Bank stock opened at $23.88 on Thursday. The firm has a 50 day moving average price of $24.73 and a 200-day moving average price of $27.13. HDFC Bank Limited has a twelve month low of $22.66 and a twelve month high of $38.29. The company has a market capitalization of $121.82 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.13 and a beta of 0.65.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. The company had revenue of $9.01 billion for the quarter, compared to analysts' expectations of $5 billion. Equities analysts expect that HDFC Bank Limited will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HDB shares. Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Wall Street Zen lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

HDFC Bank Company Profile

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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