Rhumbline Advisers Reduces Position in HDFC Bank Limited (NYSE:HDB)

Rhumbline Advisers cut its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,148 shares of the bank's stock after selling 9,457 shares during the quarter. Rhumbline Advisers' holdings in HDFC Bank were worth $15,291,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in HDFC Bank by 6,998.2% during the 1st quarter. GAMMA Investing LLC now owns 158,858 shares of the bank's stock worth $105,550,000 after acquiring an additional 156,620 shares in the last quarter. Boston Common Asset Management LLC increased its holdings in shares of HDFC Bank by 2.7% during the 1st quarter. Boston Common Asset Management LLC now owns 427,115 shares of the bank's stock valued at $28,378,000 after acquiring an additional 11,113 shares during the last quarter. Fairtree Asset Management Pty Ltd acquired a new stake in HDFC Bank in the 4th quarter valued at approximately $153,000. Wealth Enhancement Advisory Services LLC raised its position in HDFC Bank by 37.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,205 shares of the bank's stock worth $396,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of HDFC Bank in the fourth quarter valued at $2,046,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Down 1.8%

Shares of NYSE:HDB traded down $1.37 during trading on Monday, reaching $76.11. 813,725 shares of the stock traded hands, compared to its average volume of 2,790,262. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $77.76. The stock has a market cap of $192.73 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a 50-day moving average of $71.44 and a two-hundred day moving average of $65.67.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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.