Van ECK Associates Corp Trims Stock Position in HDFC Bank Limited (NYSE:HDB)

Van ECK Associates Corp decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,235 shares of the bank's stock after selling 48,280 shares during the period. Van ECK Associates Corp's holdings in HDFC Bank were worth $25,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HDB. Morgan Stanley lifted its stake in HDFC Bank by 5.1% in the 3rd quarter. Morgan Stanley now owns 14,886,302 shares of the bank's stock worth $878,441,000 after purchasing an additional 723,106 shares in the last quarter. Baillie Gifford & Co. grew its holdings in HDFC Bank by 0.8% in the 4th quarter. Baillie Gifford & Co. now owns 9,636,983 shares of the bank's stock valued at $646,738,000 after buying an additional 76,505 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of HDFC Bank by 4.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,772,331 shares of the bank's stock worth $516,561,000 after acquiring an additional 410,884 shares during the last quarter. Sustainable Growth Advisers LP boosted its position in shares of HDFC Bank by 2.2% during the 3rd quarter. Sustainable Growth Advisers LP now owns 6,933,843 shares of the bank's stock valued at $409,166,000 after acquiring an additional 146,980 shares during the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of HDFC Bank by 2.9% in the fourth quarter. Impax Asset Management Group plc now owns 5,771,491 shares of the bank's stock valued at $386,431,000 after purchasing an additional 160,220 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Monday, April 22nd.

HDFC Bank Trading Up 0.9 %

Shares of HDFC Bank stock traded up $0.53 on Wednesday, reaching $58.13. The company had a trading volume of 2,295,240 shares, compared to its average volume of 3,481,709. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40. The firm has a market cap of $108.12 billion, a PE ratio of 17.83, a PEG ratio of 1.09 and a beta of 0.87. The firm's 50 day moving average price is $56.34 and its two-hundred day moving average price is $58.55. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39.

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.