Callan Family Office LLC Sells 5,816 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• Callan Family Office LLC has reduced its stake in HDFC Bank Limited by 18.6% in the first quarter, now owning 25,483 shares worth approximately $1.69 million.
• Several other institutional investors have also adjusted their holdings, with Nuveen LLC acquiring a new stake valued at about $178.34 million.
• HDFC Bank's recent earnings report showed a miss in EPS expectations, reporting $0.74 compared to the consensus estimate of $0.75.

Callan Family Office LLC lowered its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 18.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,483 shares of the bank's stock after selling 5,816 shares during the period. Callan Family Office LLC's holdings in HDFC Bank were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HDB. Bank Pictet & Cie Europe AG boosted its holdings in HDFC Bank by 451.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock worth $1,245,000 after buying an additional 15,955 shares during the last quarter. Bank of Montreal Can boosted its holdings in HDFC Bank by 3.8% during the fourth quarter. Bank of Montreal Can now owns 81,999 shares of the bank's stock worth $5,236,000 after buying an additional 2,973 shares during the last quarter. Raymond James Financial Inc. bought a new position in HDFC Bank during the fourth quarter worth about $39,495,000. Sterling Capital Management LLC boosted its holdings in HDFC Bank by 21.8% during the fourth quarter. Sterling Capital Management LLC now owns 7,895 shares of the bank's stock worth $504,000 after buying an additional 1,413 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in HDFC Bank by 1.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 103,627 shares of the bank's stock worth $6,618,000 after buying an additional 1,436 shares during 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 Saturday, July 26th.

HDFC Bank Trading Up 1.5%

Shares of NYSE:HDB traded up $1.09 during trading on Friday, hitting $74.94. 1,654,155 shares of the company's stock traded hands, compared to its average volume of 1,836,277. HDFC Bank Limited has a 52 week low of $57.78 and a 52 week high of $79.61. The company has a market cap of $191.15 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The company has a 50-day moving average price of $75.94 and a 200-day moving average price of $69.98.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. On average, analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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.