William Blair Investment Management LLC Cuts Stock Holdings in HDFC Bank Limited $HDB

William Blair Investment Management LLC reduced its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,011,708 shares of the bank's stock after selling 147,590 shares during the period. William Blair Investment Management LLC's holdings in HDFC Bank were worth $77,588,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New Vernon Capital Holdings II LLC purchased a new stake in shares of HDFC Bank in the first quarter valued at approximately $1,546,956,000. GQG Partners LLC grew its position in shares of HDFC Bank by 105.5% in the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank's stock valued at $1,076,128,000 after purchasing an additional 8,313,645 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock valued at $389,887,000 after purchasing an additional 5,779,375 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of HDFC Bank by 3,715.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank's stock valued at $279,029,000 after purchasing an additional 4,089,647 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of HDFC Bank by 53.5% in the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank's stock valued at $745,107,000 after purchasing an additional 3,907,637 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HDB shares. Weiss Ratings restated a "hold (c)" rating on shares of HDFC Bank in a research report on Wednesday, October 8th. Zacks Research upgraded HDFC Bank from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, HDFC Bank currently has an average rating of "Moderate Buy".

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $36.72 on Friday. The firm has a market capitalization of $187.33 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.95 and a beta of 0.63. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The stock has a 50 day moving average of $35.56 and a 200 day moving average of $36.42.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. Analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, August 20th. Investors of record on Thursday, July 31st were given a $0.0854 dividend. This represents a yield of 101.0%. The ex-dividend date was Thursday, July 31st. HDFC Bank's dividend payout ratio is presently 19.63%.

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.

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