HDFC Bank Limited $HDB Stock Sold by Vise Technologies Inc.

Key Points

• Vise Technologies cut its HDFC Bank stake by 54.6% in the third quarter, selling 133,476 shares and retaining 110,838 shares valued at about $2.48 million.
• Institutional investors made mixed moves: several funds increased holdings, and hedge funds and other institutions collectively owned 17.61% of the stock.
• Analysts’ average rating was Hold, with an average price target of $26.10. HDFC Bank reported quarterly EPS of $0.42, topping the $0.40 consensus estimate.

Vise Technologies Inc. lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 54.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,838 shares of the bank's stock after selling 133,476 shares during the quarter. Vise Technologies Inc.'s holdings in HDFC Bank were worth $2,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Elliott Investment Management L.P. raised its position in HDFC Bank by 267.7% during the 1st quarter. Elliott Investment Management L.P. now owns 797,085 shares of the bank's stock valued at $19,831,000 after purchasing an additional 580,329 shares in the last quarter. KBC Group NV grew its position in shares of HDFC Bank by 26.9% in the 1st quarter. KBC Group NV now owns 404,884 shares of the bank's stock worth $10,074,000 after buying an additional 85,882 shares during the last quarter. ABN Amro Investment Solutions grew its holdings in HDFC Bank by 66.0% in the first quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank's stock worth $37,294,000 after purchasing an additional 595,912 shares during the last quarter. Raiffeisen Bank International AG increased its position in HDFC Bank by 999.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 756,000 shares of the bank's stock valued at $19,588,000 after buying an additional 687,223 shares in the last quarter. Finally, XY Capital Ltd raised its position in shares of HDFC Bank by 143.5% in the 2nd quarter. XY Capital Ltd now owns 517,975 shares of the bank's stock valued at $13,379,000 after purchasing an additional 305,215 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on HDB. Zacks Research upgraded shares of HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. The Goldman Sachs Group began coverage on shares of HDFC Bank in a research report on Friday, August 21st. They set a "buy" rating for the company. HSBC downgraded HDFC Bank from a "buy" rating to a "hold" rating and cut their price target for the stock from $30.80 to $26.10 in a research report on Monday, August 31st. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Finally, Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $26.10.

HDFC Bank Stock Performance

Shares of HDB opened at $24.69 on Friday. The stock has a 50 day moving average price of $22.71 and a 200 day moving average price of $25.70. HDFC Bank Limited has a one year low of $21.36 and a one year high of $37.35. The stock has a market capitalization of $126.71 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.34 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $4.95 billion. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. On average, analysts predict 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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