Envestnet Asset Management Inc. Sells 57,112 Shares of HDFC Bank Limited (NYSE:HDB)

Envestnet Asset Management Inc. lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,148,586 shares of the bank's stock after selling 57,112 shares during the period. Envestnet Asset Management Inc.'s holdings in HDFC Bank were worth $76,312,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HDB. GAMMA Investing LLC grew its position in shares of HDFC Bank by 6.8% in the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after buying an additional 153 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after purchasing an additional 240 shares during the last quarter. Level Four Advisory Services LLC lifted its position in shares of HDFC Bank by 3.6% in the 4th quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock worth $438,000 after purchasing an additional 241 shares during the period. Portside Wealth Group LLC raised its stake in HDFC Bank by 2.7% during the first quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after buying an additional 241 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in HDFC Bank by 0.4% during the 4th quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock worth $5,406,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

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

HDFC Bank Stock Down 0.9%

Shares of HDB stock traded down $0.68 during trading hours on Friday, reaching $76.00. The company had a trading volume of 998,720 shares, compared to its average volume of 1,882,167. The company has a market cap of $192.45 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.89 and a beta of 0.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.07 and a quick ratio of 0.09. HDFC Bank Limited has a 12 month low of $57.24 and a 12 month high of $78.14. The business has a fifty day simple moving average of $74.64 and a 200-day simple moving average of $67.22.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. On average, research analysts expect 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.