HDFC Bank Limited (NYSE:HDB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,245,746 shares of the bank's stock after selling 13,431 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of HDFC Bank worth $149,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp grew its stake in HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after buying an additional 347,488 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in HDFC Bank during the 4th quarter worth $580,000. Ovata Capital Management Ltd grew its stake in HDFC Bank by 89.7% during the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after buying an additional 326,400 shares during the last quarter. Summit Global Investments grew its stake in HDFC Bank by 46.8% during the 4th quarter. Summit Global Investments now owns 13,199 shares of the bank's stock worth $843,000 after buying an additional 4,210 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in HDFC Bank by 111.7% during the 4th quarter. First Trust Advisors LP now owns 39,109 shares of the bank's stock worth $2,498,000 after buying an additional 20,633 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

HDFC Bank Stock Performance

Shares of HDB stock traded down $0.68 on Friday, hitting $76.00. The company had a trading volume of 998,720 shares, compared to its average volume of 2,707,226. The firm has a market cap of $192.45 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The company has a 50-day moving average price of $74.69 and a 200-day moving average price of $67.29. 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 twelve month low of $57.24 and a twelve month high of $78.14.

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, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. As a group, equities research analysts predict 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.