Envestnet Portfolio Solutions Inc. Sells 12,247 Shares of HDFC Bank Limited (NYSE:HDB)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,673 shares of the bank's stock after selling 12,247 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in HDFC Bank were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after buying an additional 347,488 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of HDFC Bank in the 4th quarter valued at approximately $580,000. US Bancorp DE raised its stake in shares of HDFC Bank by 12.7% in the 4th quarter. US Bancorp DE now owns 157,665 shares of the bank's stock valued at $10,068,000 after acquiring an additional 17,800 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of HDFC Bank in the 4th quarter valued at approximately $2,907,000. Finally, Ovata Capital Management Ltd raised its stake in shares of HDFC Bank by 89.7% in the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock valued at $43,863,000 after acquiring an additional 326,400 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 $0.86 during trading on Wednesday, reaching $75.96. The company had a trading volume of 2,245,543 shares, compared to its average volume of 2,779,117. The firm's 50 day simple moving average is $73.80 and its two-hundred day simple moving average is $66.43. 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 one year low of $57.24 and a one year high of $77.76. The company has a market capitalization of $192.35 billion, a PE ratio of 23.02, a PEG ratio of 1.79 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data 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. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. Sell-side 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 HDFC Bank from a "sell" rating to a "hold" rating in a research note 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.