Federated Hermes Inc. Has $2.84 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Federated Hermes Inc. cut its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 17.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,680 shares of the bank's stock after selling 9,229 shares during the period. Federated Hermes Inc.'s holdings in HDFC Bank were worth $2,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HDB. Bank Pictet & Cie Europe AG grew its position in shares of HDFC Bank by 451.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock worth $1,245,000 after buying an additional 15,955 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of HDFC Bank by 6.9% in the 4th quarter. Alliancebernstein L.P. now owns 133,627 shares of the bank's stock worth $8,533,000 after purchasing an additional 8,663 shares during the last quarter. Aviva PLC raised its stake in shares of HDFC Bank by 11.4% in the 4th quarter. Aviva PLC now owns 47,072 shares of the bank's stock valued at $3,006,000 after purchasing an additional 4,799 shares in the last quarter. FMR LLC lifted its position in shares of HDFC Bank by 13.3% during the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank's stock worth $497,668,000 after purchasing an additional 914,289 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in HDFC Bank by 0.6% in the fourth quarter. Cerity Partners LLC now owns 65,069 shares of the bank's stock worth $4,090,000 after purchasing an additional 359 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.2%

NYSE HDB traded up $0.13 during trading hours on Wednesday, hitting $75.86. The company had a trading volume of 1,096,786 shares, compared to its average volume of 2,620,960. The firm has a market cap of $192.10 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 1.91 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week high of $79.61. The business has a fifty day simple moving average of $76.07 and a 200-day simple moving average of $69.13.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (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 the consensus estimate of $5.03 billion. Equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.