HDFC Bank Limited (NYSE:HDB) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 58.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,816 shares of the bank's stock after selling 6,763 shares during the period. Parallel Advisors LLC's holdings in HDFC Bank were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of HDB. abrdn plc boosted its holdings in shares of HDFC Bank by 23.1% during the 4th quarter. abrdn plc now owns 367,484 shares of the bank's stock valued at $23,381,000 after purchasing an additional 68,857 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of HDFC Bank by 10.7% during the 4th quarter. Mather Group LLC. now owns 3,620 shares of the bank's stock valued at $231,000 after purchasing an additional 351 shares during the last quarter. Ninety One North America Inc. boosted its holdings in shares of HDFC Bank by 13.9% during the 4th quarter. Ninety One North America Inc. now owns 63,976 shares of the bank's stock valued at $4,086,000 after purchasing an additional 7,818 shares during the last quarter. ARGA Investment Management LP boosted its holdings in shares of HDFC Bank by 3.2% during the 4th quarter. ARGA Investment Management LP now owns 1,449,813 shares of the bank's stock valued at $92,585,000 after purchasing an additional 44,794 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of HDFC Bank by 177.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075,131 shares of the bank's stock valued at $69,719,000 after purchasing an additional 687,811 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 2.4%

HDFC Bank stock traded up $1.83 during midday trading on Friday, reaching $77.54. The stock had a trading volume of 3,232,738 shares, compared to its average volume of 2,797,810. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $77.76. The firm has a market cap of $196.36 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. The company has a fifty day moving average of $71.44 and a 200 day moving average of $65.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.