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Barings LLC Sells 46,050 Shares of HDFC Bank Limited (NYSE:HDB)

HDFC Bank logo with Finance background

Key Points

  • Barings LLC reduced its stake in HDFC Bank Limited by 12.6%, selling 46,050 shares, leaving them with 319,467 shares, which are valued at $21,225,000.
  • Other institutional investors have increased their holdings in HDFC Bank, with Larson Financial Group growing its stake by over 1,217% during the same quarter.
  • HDFC Bank's stock opened at $77.00, with a market capitalization of $194.99 billion, and the bank reported earnings per share of $0.74 for the last quarter, slightly missing analysts' estimates.
  • Five stocks we like better than HDFC Bank.

Barings LLC decreased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 319,467 shares of the bank's stock after selling 46,050 shares during the quarter. HDFC Bank makes up about 0.5% of Barings LLC's holdings, making the stock its 26th largest position. Barings LLC's holdings in HDFC Bank were worth $21,225,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Northern Trust Corp lifted its holdings in shares of HDFC Bank by 52.0% in the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after purchasing an additional 347,488 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of HDFC Bank in the fourth quarter worth about $580,000. Ovata Capital Management Ltd lifted its position in shares of HDFC Bank by 89.7% during the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after purchasing an additional 326,400 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of HDFC Bank by 20.6% in the first quarter. Natixis Advisors LLC now owns 2,238,560 shares of the bank's stock worth $148,730,000 after acquiring an additional 382,267 shares in the last quarter. Finally, ARGA Investment Management LP boosted its stake in HDFC Bank by 7.2% during the 1st quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock valued at $103,246,000 after acquiring an additional 104,162 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of HDB traded down $0.53 during midday trading on Monday, reaching $76.46. The stock had a trading volume of 1,734,116 shares, compared to its average volume of 1,890,784. HDFC Bank Limited has a 52 week low of $57.24 and a 52 week high of $79.61. The company has a market capitalization of $193.61 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.92 and a beta of 0.64. The firm's 50 day moving average price is $75.98 and its 200-day moving average price is $68.95.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Read Our Latest Research Report on HDB

HDFC Bank Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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