Channel Wealth LLC Sells 14,372 Shares of HDFC Bank Limited (NYSE:HDB)

Channel Wealth LLC decreased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 75.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,736 shares of the bank's stock after selling 14,372 shares during the period. Channel Wealth LLC's holdings in HDFC Bank were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HDB. GQG Partners LLC increased its holdings in shares of HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock worth $503,431,000 after buying an additional 3,364,114 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of HDFC Bank by 82.1% during the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock worth $447,584,000 after buying an additional 3,160,533 shares in the last quarter. FIL Ltd increased its holdings in shares of HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock worth $1,115,451,000 after buying an additional 2,599,337 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after buying an additional 2,196,315 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of HDFC Bank by 3,535.1% during the fourth quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank's stock worth $122,718,000 after buying an additional 1,868,804 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock traded up $1.83 during midday trading on Friday, reaching $77.54. The company had a trading volume of 3,232,738 shares, compared to its average volume of 2,797,810. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $196.36 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. The stock has a fifty day simple moving average of $71.44 and a 200 day simple moving average of $65.67. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $77.76.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

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

About HDFC Bank

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.