Schechter Investment Advisors LLC Trims Holdings in HDFC Bank Limited (NYSE:HDB)

Schechter Investment Advisors LLC lowered its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 19.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,074 shares of the bank's stock after selling 4,148 shares during the period. Schechter Investment Advisors LLC's holdings in HDFC Bank were worth $1,134,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HDB. Northern Trust Corp grew its stake in shares of HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after buying an additional 347,488 shares during the period. Tudor Investment Corp ET AL acquired a new position in HDFC Bank in the fourth quarter valued at $580,000. Ovata Capital Management Ltd increased its stake in HDFC Bank by 89.7% during the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after acquiring an additional 326,400 shares during the last quarter. Summit Global Investments increased its stake in HDFC Bank by 46.8% during the fourth quarter. Summit Global Investments now owns 13,199 shares of the bank's stock worth $843,000 after acquiring an additional 4,210 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of HDFC Bank by 111.7% in the 4th quarter. First Trust Advisors LP now owns 39,109 shares of the bank's stock worth $2,498,000 after purchasing an additional 20,633 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Trading Down 1.0%

Shares of HDFC Bank stock traded down $0.75 during trading hours on Monday, hitting $75.26. The company's stock had a trading volume of 2,262,539 shares, compared to its average volume of 2,714,358. The business has a fifty day moving average of $74.69 and a 200 day moving average of $67.32. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $78.14. 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 company has a market capitalization of $190.58 billion, a PE ratio of 22.81, a P/E/G ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating 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 the consensus estimate of $434.68 billion. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.