Fiera Capital Corp Sells 728,479 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• Fiera Capital Corp reduced its holdings in HDFC Bank by 12.6%, now owning approximately 5.03 million shares valued at $334.4 million, which represents about 1.2% of its portfolio.
• Other investors such as Oversea Chinese Banking Corp Ltd and Royal Bank of Canada significantly increased their stakes, with Overseas Chinese banking increasing its position by 6,502.2% in Q1.
• HDFC Bank's recent earnings report showed an EPS of $0.74, slightly below the consensus estimate, with a revenue of $5.10 billion for the quarter exceeding expectations.

Fiera Capital Corp reduced its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 12.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,032,882 shares of the bank's stock after selling 728,479 shares during the period. HDFC Bank comprises approximately 1.2% of Fiera Capital Corp's holdings, making the stock its 29th largest position. Fiera Capital Corp owned approximately 0.20% of HDFC Bank worth $334,385,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after acquiring an additional 240 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after acquiring an additional 507 shares during the last quarter. NBC Securities Inc. purchased a new position in HDFC Bank in the 1st quarter worth approximately $55,000. Finally, Atlas Capital Advisors Inc. purchased a new position in HDFC Bank in the 4th quarter worth approximately $56,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.3%

NYSE:HDB traded up $0.26 during trading hours on Friday, reaching $77.03. The company had a trading volume of 513,791 shares, compared to its average volume of 2,646,247. HDFC Bank Limited has a 52 week low of $57.24 and a 52 week high of $79.61. The firm has a market cap of $195.05 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.91 and a beta of 0.64. The firm's 50 day moving average price is $75.92 and its 200-day moving average price is $68.69.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its 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). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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 report on Saturday, July 26th.

HDFC Bank Profile

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.