Sustainable Growth Advisers LP Sells 372,990 Shares of HDFC Bank Limited (NYSE:HDB)

Sustainable Growth Advisers LP lowered its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,803,497 shares of the bank's stock after selling 372,990 shares during the period. HDFC Bank accounts for approximately 2.9% of Sustainable Growth Advisers LP's holdings, making the stock its 15th biggest holding. Sustainable Growth Advisers LP owned 0.31% of HDFC Bank worth $518,464,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HDB. Bank Pictet & Cie Europe AG raised its stake in HDFC Bank by 451.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock worth $1,245,000 after buying an additional 15,955 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of HDFC Bank by 15.6% in the 4th quarter. Corient Private Wealth LLC now owns 22,144 shares of the bank's stock worth $1,414,000 after acquiring an additional 2,996 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of HDFC Bank by 8.7% in the 4th quarter. TD Private Client Wealth LLC now owns 5,337 shares of the bank's stock worth $341,000 after acquiring an additional 428 shares in the last quarter. Summit Global Investments boosted its position in shares of HDFC Bank by 46.8% during the fourth quarter. Summit Global Investments now owns 13,199 shares of the bank's stock valued at $843,000 after purchasing an additional 4,210 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of HDFC Bank by 22.9% during the fourth quarter. American Century Companies Inc. now owns 1,274,755 shares of the bank's stock valued at $81,406,000 after purchasing an additional 237,324 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded down $0.14 during trading on Friday, reaching $77.86. 1,340,326 shares of the stock traded hands, compared to its average volume of 2,686,057. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $79.61. The stock has a 50-day moving average of $75.52 and a two-hundred day moving average of $68.09. The stock has a market cap of $197.18 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. Sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

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 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.