Parallel Advisors LLC Has $320,000 Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Parallel Advisors LLC cut its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HDB. Whipplewood Advisors LLC acquired a new stake in HDFC Bank in the fourth quarter worth approximately $29,000. Graney & King LLC acquired a new stake in HDFC Bank in the fourth quarter worth approximately $38,000. Brown Brothers Harriman & Co. lifted its position in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after purchasing an additional 240 shares during the period. Sierra Ocean LLC acquired a new stake in HDFC Bank in the fourth quarter worth approximately $42,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in HDFC Bank in the fourth quarter worth approximately $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.8%

NYSE:HDB traded up $0.63 during trading hours on Thursday, hitting $75.71. 1,801,305 shares of the stock traded hands, compared to its average volume of 2,797,281. The firm has a 50 day moving average price of $71.01 and a 200 day moving average price of $65.45. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a fifty-two week low of $57.17 and a fifty-two week high of $75.96. The firm has a market cap of $191.72 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.12 and a beta of 0.63.

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

Wall Street Analyst Weigh In

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

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.