Martin Currie Ltd. Sells 85,622 Shares of HDFC Bank Limited $HDB

Key Points

• Martin Currie Ltd. has reduced its stake in HDFC Bank Limited by 2.9%, selling 85,622 shares and now holding 2,872,652 shares valued at approximately $190.9 million.
• HDFC Bank's stock price opened at $73.84, with a market cap of $188.33 billion and a PE ratio of 22.65.
• Analysts recently upgraded HDFC Bank's rating from "sell" to "hold", indicating a potential improvement in the stock’s outlook.

Martin Currie Ltd. reduced its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,872,652 shares of the bank's stock after selling 85,622 shares during the period. HDFC Bank comprises 7.7% of Martin Currie Ltd.'s holdings, making the stock its 2nd biggest position. Martin Currie Ltd. owned about 0.11% of HDFC Bank worth $190,859,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Azimuth Capital Investment Management LLC raised its position in HDFC Bank by 2.6% during the first quarter. Azimuth Capital Investment Management LLC now owns 70,385 shares of the bank's stock worth $4,676,000 after acquiring an additional 1,790 shares during the period. OneAscent Investment Solutions LLC purchased a new stake in HDFC Bank during the 1st quarter valued at about $944,000. Vestmark Advisory Solutions Inc. raised its holdings in HDFC Bank by 85.5% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 50,926 shares of the bank's stock valued at $3,384,000 after acquiring an additional 23,469 shares during the last quarter. GQG Partners LLC lifted its stake in HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock worth $1,076,128,000 after purchasing an additional 8,313,645 shares in the last quarter. Finally, Triglav Skladi D.O.O. purchased a new position in HDFC Bank in the 1st quarter worth approximately $1,628,000. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".

HDFC Bank Stock Down 0.7%

HDFC Bank stock traded down $0.5320 during trading on Tuesday, reaching $74.9180. The stock had a trading volume of 1,673,682 shares, compared to its average volume of 2,559,432. HDFC Bank Limited has a 52-week low of $57.78 and a 52-week high of $79.61. The stock has a market cap of $191.10 billion, a PE ratio of 22.98, a P/E/G ratio of 1.87 and a beta of 0.64. The business has a 50 day moving average price of $75.93 and a 200 day moving average price of $70.15.

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