HDFC Bank Limited $HDB Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. significantly reduced its stake in HDFC Bank Limited by 77.9%, now holding just 8,480 shares after selling 29,900 shares in the first quarter.
• Several hedge funds have increased their positions in HDFC Bank, with Larson Financial Group LLC growing its stake by 1,217.1%, indicating renewed interest from investors.
• HDFC Bank's recent earnings report showed an EPS of $0.74, slightly below the consensus estimate of $0.75, while revenue exceeded expectations at $5.10 billion.

Candriam S.C.A. trimmed its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 77.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,480 shares of the bank's stock after selling 29,900 shares during the period. Candriam S.C.A.'s holdings in HDFC Bank were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. GQG Partners LLC increased its position in shares of HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after acquiring an additional 8,313,645 shares during the period. JPMorgan Chase & Co. increased its position in shares of HDFC Bank by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 9,616,713 shares of the bank's stock valued at $638,934,000 after acquiring an additional 202,032 shares during the period. Temasek Holdings Private Ltd increased its position in shares of HDFC Bank by 2.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank's stock valued at $546,500,000 after acquiring an additional 190,566 shares during the period. Royal Bank of Canada increased its position in shares of HDFC Bank by 43.0% in the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after acquiring an additional 2,196,315 shares during the period. Finally, Bank of America Corp DE increased its position in shares of HDFC Bank by 27.3% in the 4th quarter. Bank of America Corp DE now owns 6,373,404 shares of the bank's stock valued at $407,006,000 after acquiring an additional 1,368,365 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

HDFC Bank Stock Down 1.6%

Shares of HDB stock traded down $1.19 during mid-day trading on Thursday, hitting $71.10. 1,742,610 shares of the stock were exchanged, compared to its average volume of 2,528,441. The firm has a fifty day moving average of $75.76 and a 200 day moving average of $70.64. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The company has a market cap of $181.37 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.86 and a beta of 0.64.

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). The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current 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.