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Trillium Asset Management LLC Sells 8,413 Shares of HDFC Bank Limited (NYSE:HDB)

HDFC Bank logo with Finance background

Key Points

  • Trillium Asset Management LLC reduced its stake in HDFC Bank Limited by 6.6%, holding 118,759 shares valued at approximately $7.89 million after selling 8,413 shares in the first quarter.
  • Several hedge funds increased their stakes in HDFC Bank, with Northern Trust Corp raising its holdings by 52% and others such as Natixis Advisors LLC and Raiffeisen Bank also making significant acquisitions.
  • HDFC Bank reported earnings per share of $0.74 for the last quarter, missing estimates by $0.01, but exceeded revenue expectations with $5.10 billion compared to the analyst estimates of $5.03 billion.
  • Want stock alerts on HDFC Bank? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Trillium Asset Management LLC lessened its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,759 shares of the bank's stock after selling 8,413 shares during the quarter. Trillium Asset Management LLC's holdings in HDFC Bank were worth $7,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HDB. Larson Financial Group LLC boosted its position in HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after buying an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after purchasing an additional 507 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of HDFC Bank during the first quarter worth approximately $55,000. Pinnacle Bancorp Inc. lifted its position in shares of HDFC Bank by 109.7% during the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after purchasing an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of HDFC Bank by 233.0% during the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank's stock worth $60,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th.

View Our Latest Report on HDB

HDFC Bank Trading Up 1.5%

Shares of HDB traded up $1.09 on Friday, reaching $74.94. 1,654,155 shares of the company's stock were exchanged, compared to its average volume of 2,576,979. The stock has a market capitalization of $191.15 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The business has a 50 day moving average price of $76.00 and a two-hundred day moving average price of $69.81. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.03 billion. Equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

About HDFC Bank

(Free Report)

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.

See Also

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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