Zevin Asset Management LLC Reduces Position in HDFC Bank Limited (NYSE:HDB)

Zevin Asset Management LLC trimmed its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,695 shares of the bank's stock after selling 22,083 shares during the period. HDFC Bank makes up 1.8% of Zevin Asset Management LLC's investment portfolio, making the stock its 24th largest holding. Zevin Asset Management LLC's holdings in HDFC Bank were worth $11,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock worth $31,000 after buying an additional 426 shares during the last quarter. Graney & King LLC purchased a new position in shares of HDFC Bank during the fourth quarter worth about $38,000. Brown Brothers Harriman & Co. grew its holdings in shares of HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after buying an additional 240 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock worth $41,000 after buying an additional 507 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of HDFC Bank during the first quarter worth about $55,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of HDB stock traded down $0.19 during mid-day trading on Tuesday, hitting $78.27. The stock had a trading volume of 745,926 shares, compared to its average volume of 2,696,466. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $78.92. The firm has a market cap of $198.21 billion, a PE ratio of 23.74, a PEG ratio of 1.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.04 and a quick ratio of 1.04. The company's 50-day simple moving average is $75.04 and its 200-day simple moving average is $67.72.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. HDFC Bank had a net margin of 15.02% and a return on equity of 12.00%. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. Sell-side analysts anticipate 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 shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th.

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.

Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.