Mawer Investment Management Ltd. Sells 48,248 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• Mawer Investment Management Ltd. reduced its stake in HDFC Bank by 3.4%, selling 48,248 shares and now holding approximately 1,369,370 shares worth about $90.98 million.
• Several institutional investors significantly increased their positions in HDFC Bank, with OVERSEA CHINESE BANKING Corp and others boosting their holdings by percentages as high as 6,502.2% and 3,535.1% in the 1st quarter.
• HDFC Bank's recent earnings report showed an EPS of $0.74, slightly missing analyst expectations, while achieving a revenue of $5.10 billion against an expected $5.03 billion.

Mawer Investment Management Ltd. cut its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,369,370 shares of the bank's stock after selling 48,248 shares during the period. Mawer Investment Management Ltd. owned approximately 0.05% of HDFC Bank worth $90,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in shares of HDFC Bank by 20.9% in the first quarter. LPL Financial LLC now owns 139,961 shares of the bank's stock valued at $9,299,000 after acquiring an additional 24,185 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of HDFC Bank in the first quarter valued at approximately $361,000. FourThought Financial Partners LLC lifted its stake in HDFC Bank by 9.2% during the first quarter. FourThought Financial Partners LLC now owns 9,946 shares of the bank's stock worth $661,000 after purchasing an additional 841 shares during the last quarter. HB Wealth Management LLC lifted its stake in HDFC Bank by 110.5% during the first quarter. HB Wealth Management LLC now owns 7,680 shares of the bank's stock worth $510,000 after purchasing an additional 4,031 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in HDFC Bank by 44.6% in the first quarter. Cetera Investment Advisers now owns 23,213 shares of the bank's stock valued at $1,542,000 after purchasing an additional 7,161 shares during the period. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Trading Up 0.4%

Shares of HDB traded up $0.28 during mid-day trading on Friday, reaching $77.05. 554,877 shares of the stock traded hands, compared to its average volume of 2,646,559. The firm has a fifty day moving average price of $75.92 and a 200 day moving average price of $68.69. The company has a market cap of $195.11 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.64. HDFC Bank Limited has a 1 year low of $57.24 and a 1 year high of $79.61.

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

Analysts Set New Price Targets

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

HDFC Bank 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.