HDFC Bank Limited (NYSE:HDB) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in HDFC Bank by 1.5%, now owning approximately 3.56 million shares valued at $236.66 million as of its latest filing.
• Other institutional investors, such as Cetera Investment Advisers and Avantax Advisory Services Inc., increased their stakes in HDFC Bank during the first quarter.
• HDFC Bank has a current market capitalization of $197.52 billion and reported an EPS of $0.74, slightly below analyst expectations.

Baillie Gifford & Co. trimmed its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,562,073 shares of the bank's stock after selling 53,677 shares during the period. Baillie Gifford & Co. owned approximately 0.14% of HDFC Bank worth $236,664,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HDB. Bank Pictet & Cie Europe AG grew its position in HDFC Bank by 451.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock worth $1,245,000 after acquiring an additional 15,955 shares during the period. LPL Financial LLC grew its position in HDFC Bank by 17.4% in the fourth quarter. LPL Financial LLC now owns 115,776 shares of the bank's stock worth $7,393,000 after acquiring an additional 17,173 shares during the period. Prudential Financial Inc. grew its position in HDFC Bank by 33.2% in the fourth quarter. Prudential Financial Inc. now owns 53,658 shares of the bank's stock worth $3,427,000 after acquiring an additional 13,387 shares during the period. Segall Bryant & Hamill LLC purchased a new position in HDFC Bank in the fourth quarter worth approximately $881,000. Finally, Graney & King LLC acquired a new position in HDFC Bank during the fourth quarter worth $38,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday.

HDFC Bank Stock Down 0.2%

NYSE:HDB traded down $0.14 during trading hours on Friday, reaching $77.86. 1,340,327 shares of the stock were exchanged, compared to its average volume of 1,823,866. The business has a 50-day moving average of $75.62 and a two-hundred day moving average of $68.26. HDFC Bank Limited has a twelve month low of $57.24 and a twelve month high of $79.61. The company has a market capitalization of $197.18 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.94 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 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The firm 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%. On average, research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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.