Eagle Global Advisors LLC Sells 22,800 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• Eagle Global Advisors LLC has reduced its stake in HDFC Bank Limited by 26.9%, now holding 61,860 shares valued at approximately $4.11 million.
• Several institutional investors, including Nuveen LLC and JPMorgan Chase & Co., have either entered new positions or increased their holdings in HDFC Bank during the first quarter of the year.
• HDFC Bank reported a quarterly EPS of $0.74, slightly missing the consensus estimate, but had revenues of $5.10 billion, surpassing analyst expectations of $5.03 billion.

Eagle Global Advisors LLC lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 26.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 61,860 shares of the bank's stock after selling 22,800 shares during the period. Eagle Global Advisors LLC's holdings in HDFC Bank were worth $4,110,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after purchasing an additional 153 shares during the period. DMC Group LLC grew its holdings in HDFC Bank by 2.5% in the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after purchasing an additional 181 shares during the period. Platform Technology Partners grew its holdings in HDFC Bank by 2.7% in the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after purchasing an additional 201 shares during the period. Portside Wealth Group LLC grew its holdings in HDFC Bank by 2.7% in the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after purchasing an additional 241 shares during the period. Finally, Cetera Investment Advisers grew its holdings in HDFC Bank by 2.1% in the fourth quarter. Cetera Investment Advisers now owns 16,052 shares of the bank's stock worth $1,025,000 after purchasing an additional 324 shares during the period. Institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Stock Up 1.7%

HDFC Bank stock traded up $1.27 during midday trading on Friday, hitting $75.12. 769,674 shares of the stock were exchanged, compared to its average volume of 2,571,134. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The stock has a market capitalization of $191.60 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The business's 50-day moving average price is $76.00 and its 200-day moving average price is $69.81.

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

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.