HDFC Bank Limited $HDB Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Zurich cut its HDFC Bank stake by 33.4% in the third quarter, selling 65,177 shares and retaining 130,020 shares worth about $2.9 million.
• Analyst views were mixed, but HDFC Bank had an overall “Hold” consensus and a $26.10 average price target; ratings included one Buy, two Holds, and one Sell.
• HDFC Bank reported quarterly EPS of $0.42, beating the $0.40 estimate, and revenue of $8.20 billion versus analysts’ $4.95 billion expectation.

Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 33.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 130,020 shares of the bank's stock after selling 65,177 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in HDFC Bank were worth $2,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Axiom Investment Management LLC acquired a new position in HDFC Bank in the 1st quarter worth about $32,000. Integrated Wealth Concepts LLC purchased a new position in HDFC Bank during the second quarter worth approximately $66,000. Boit C F David acquired a new stake in HDFC Bank in the third quarter valued at approximately $69,000. Pinnacle Wealth Planning Services Inc. grew its holdings in HDFC Bank by 33.3% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,807 shares of the bank's stock valued at $85,000 after purchasing an additional 952 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in shares of HDFC Bank by 215.5% in the second quarter. TD Waterhouse Canada Inc. now owns 3,868 shares of the bank's stock valued at $99,000 after buying an additional 2,642 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

Wall Street Analyst Weigh In

HDB has been the subject of several research analyst reports. Weiss Ratings downgraded HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Zacks Research raised shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. HSBC cut shares of HDFC Bank from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $30.80 to $26.10 in a research report on Monday, August 31st. Finally, The Goldman Sachs Group initiated coverage on shares of HDFC Bank in a report on Friday, August 21st. They set a "buy" rating on the stock. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.10.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $23.02 on Wednesday. The business's 50 day moving average price is $22.67 and its 200-day moving average price is $25.78. The firm has a market capitalization of $118.14 billion, a PE ratio of 13.16, a P/E/G ratio of 1.25 and a beta of 0.64. HDFC Bank Limited has a 1 year low of $21.36 and a 1 year high of $37.35.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. The firm had revenue of $8.20 billion during the quarter, compared to analysts' expectations of $4.95 billion. As a group, analysts expect that HDFC Bank Limited will post 1.65 earnings per share for the current year.

HDFC Bank Company Profile

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.

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