Ballentine Partners LLC Trims Position in HDFC Bank Limited (NYSE:HDB)

Ballentine Partners LLC lessened its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,598 shares of the bank's stock after selling 7,078 shares during the period. Ballentine Partners LLC's holdings in HDFC Bank were worth $1,302,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. purchased a new position in HDFC Bank during the 1st quarter valued at about $258,000. Genus Capital Management Inc. increased its position in HDFC Bank by 200.0% during the 1st quarter. Genus Capital Management Inc. now owns 9,752 shares of the bank's stock valued at $648,000 after purchasing an additional 19,504 shares during the period. Cerity Partners LLC increased its position in HDFC Bank by 41.6% during the 1st quarter. Cerity Partners LLC now owns 92,121 shares of the bank's stock valued at $6,121,000 after purchasing an additional 27,052 shares during the period. DMC Group LLC increased its position in HDFC Bank by 2.5% during the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after purchasing an additional 181 shares during the period. Finally, Leavell Investment Management Inc. purchased a new position in HDFC Bank during the 1st quarter valued at about $271,000. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Down 0.9%

Shares of HDFC Bank stock opened at $76.00 on Monday. The firm's 50 day moving average price is $74.69 and its 200-day moving average price is $67.32. The company has a quick ratio of 0.09, a current ratio of 0.07 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $78.14. The company has a market cap of $192.45 billion, a P/E ratio of 23.03, a PEG ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

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.

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