HDFC Bank Limited (NYSE:HDB) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in HDFC Bank Limited by 30.6%, now holding 839,705 shares valued at approximately $55.79 million.
• Other institutional investors also adjusted their stakes in HDFC Bank during the first quarter, with Larson Financial Group increasing its position by over 1,200%.
• HDFC Bank reported earnings per share of $0.74 for the last quarter, slightly missing consensus estimates, alongside revenue of $5.10 billion.

Deutsche Bank AG trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 839,705 shares of the bank's stock after selling 370,563 shares during the period. Deutsche Bank AG's holdings in HDFC Bank were worth $55,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HDB. Larson Financial Group LLC lifted its stake in HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after acquiring an additional 426 shares during the period. Cullen Frost Bankers Inc. lifted its stake in HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after acquiring an additional 507 shares during the period. NBC Securities Inc. acquired a new stake in HDFC Bank during the 1st quarter valued at approximately $55,000. Pinnacle Bancorp Inc. increased its holdings in shares of HDFC Bank by 109.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock valued at $56,000 after purchasing an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. increased its holdings in shares of HDFC Bank by 233.0% during the 1st quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock valued at $60,000 after purchasing an additional 629 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of HDB stock traded up $1.03 on Friday, hitting $74.88. 983,690 shares of the stock traded hands, compared to its average volume of 2,572,505. The firm's 50-day moving average price is $76.00 and its two-hundred day moving average price is $69.81. The stock has a market capitalization of $191.00 billion, a PE ratio of 22.97, a PEG ratio of 1.84 and a beta of 0.64. HDFC Bank Limited has a twelve month low of $57.78 and a twelve month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. On average, equities research analysts anticipate 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 report on Saturday, July 26th.

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.