Signaturefd LLC Decreases Stake in HDFC Bank Limited (NYSE:HDB)

Signaturefd LLC lessened its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,314 shares of the bank's stock after selling 8,048 shares during the quarter. Signaturefd LLC's holdings in HDFC Bank were worth $1,549,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GQG Partners LLC raised its stake in shares of HDFC Bank by 74.4% in the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock worth $503,431,000 after buying an additional 3,364,114 shares during the period. Schroder Investment Management Group boosted its stake in HDFC Bank by 82.1% during the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after buying an additional 3,160,533 shares during the last quarter. FIL Ltd boosted its stake in HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after buying an additional 2,599,337 shares during the last quarter. Royal Bank of Canada boosted its stake in HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after buying an additional 2,196,315 shares during the last quarter. Finally, National Bank of Canada FI raised its position in HDFC Bank by 3,535.1% during the fourth quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank's stock valued at $122,718,000 after purchasing an additional 1,868,804 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analysts Set New Price Targets

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

HDFC Bank Trading Up 0.0%

Shares of NYSE HDB opened at $75.24 on Wednesday. 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 business's 50 day moving average price is $74.76 and its 200-day moving average price is $67.45. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $78.14. The company has a market cap of $190.53 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.85 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 EPS 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 the consensus estimate of $434.68 billion. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. On average, sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current 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.

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