Migdal Insurance & Financial Holdings Ltd. Sells 10,000 Shares of HDFC Bank Limited (NYSE:HDB)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 37.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,724 shares of the bank's stock after selling 10,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in HDFC Bank were worth $1,111,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HDB. Pzena Investment Management LLC boosted its position in HDFC Bank by 0.6% during the 1st quarter. Pzena Investment Management LLC now owns 512,881 shares of the bank's stock worth $34,076,000 after acquiring an additional 3,217 shares during the period. Carrhae Capital LLP acquired a new stake in shares of HDFC Bank in the first quarter valued at $39,592,000. Jacobson & Schmitt Advisors LLC lifted its holdings in shares of HDFC Bank by 3.0% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 168,144 shares of the bank's stock valued at $11,172,000 after buying an additional 4,872 shares during the period. SeaBridge Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 28.1% in the first quarter. SeaBridge Investment Advisors LLC now owns 4,296 shares of the bank's stock valued at $285,000 after buying an additional 942 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after buying an additional 507 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Down 1.1%

NYSE:HDB traded down $0.84 during trading hours on Friday, hitting $75.30. 2,937,761 shares of the company's stock traded hands, compared to its average volume of 2,699,044. The firm has a market cap of $190.68 billion, a P/E ratio of 22.82, a P/E/G ratio of 1.86 and a beta of 0.64. HDFC Bank Limited has a twelve month low of $57.24 and a twelve month high of $78.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.07. The stock's fifty day moving average price is $75.04 and its two-hundred day moving average price is $67.70.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. On average, research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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.