MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 57,826 Shares of HDFC Bank Limited (NYSE:HDB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 87.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,033 shares of the bank's stock after selling 57,826 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in HDFC Bank were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. KBC Group NV increased its stake in HDFC Bank by 22.1% in the 4th quarter. KBC Group NV now owns 133,247 shares of the bank's stock worth $8,509,000 after purchasing an additional 24,088 shares during the period. BSW Wealth Partners increased its stake in shares of HDFC Bank by 6.0% during the fourth quarter. BSW Wealth Partners now owns 8,195 shares of the bank's stock valued at $523,000 after buying an additional 464 shares during the period. Baron Wealth Management LLC raised its holdings in shares of HDFC Bank by 3.7% during the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock valued at $470,000 after acquiring an additional 263 shares in the last quarter. DMC Group LLC raised its holdings in shares of HDFC Bank by 9.3% during the fourth quarter. DMC Group LLC now owns 7,237 shares of the bank's stock valued at $462,000 after acquiring an additional 617 shares in the last quarter. Finally, First Affirmative Financial Network raised its holdings in shares of HDFC Bank by 12.9% during the fourth quarter. First Affirmative Financial Network now owns 4,097 shares of the bank's stock valued at $262,000 after acquiring an additional 469 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th.

HDFC Bank Trading Down 1.0%

Shares of HDFC Bank stock traded down $0.79 during midday trading on Tuesday, reaching $74.93. 2,743,907 shares of the company's stock traded hands, compared to its average volume of 2,816,974. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $189.75 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.12 and a beta of 0.63. The stock has a 50 day moving average of $70.83 and a 200-day moving average of $65.38. HDFC Bank Limited has a 12 month low of $55.00 and a 12 month high of $75.74.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $434.68 billion. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Company 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.