Ninety One UK Ltd Sells 267,464 Shares of HDFC Bank Limited (NYSE:HDB)

Ninety One UK Ltd cut its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 31.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583,525 shares of the bank's stock after selling 267,464 shares during the period. Ninety One UK Ltd's holdings in HDFC Bank were worth $38,769,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Ninety One North America Inc. boosted its position in shares of HDFC Bank by 7.5% during the first quarter. Ninety One North America Inc. now owns 68,764 shares of the bank's stock valued at $4,569,000 after buying an additional 4,788 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. boosted its position in HDFC Bank by 4.6% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 188,995 shares of the bank's stock worth $12,557,000 after purchasing an additional 8,348 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its position in HDFC Bank by 167.5% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 99,200 shares of the bank's stock worth $6,591,000 after purchasing an additional 62,120 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in HDFC Bank by 154.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,862 shares of the bank's stock worth $921,000 after purchasing an additional 8,422 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in HDFC Bank by 10.9% in the first quarter. OneDigital Investment Advisors LLC now owns 17,012 shares of the bank's stock worth $1,130,000 after purchasing an additional 1,666 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

NYSE:HDB traded down $0.68 on Friday, hitting $76.00. The stock had a trading volume of 998,720 shares, compared to its average volume of 2,703,841. The stock has a market cap of $192.45 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.64. The company has a quick ratio of 0.09, a current ratio of 0.07 and a debt-to-equity ratio of 1.26. The business's 50-day simple moving average is $74.69 and its two-hundred day simple moving average is $67.29. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $78.14.

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

Analyst Ratings Changes

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

HDFC Bank Company 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.