1832 Asset Management L.P. Decreases Stake in HDFC Bank Limited (NYSE:HDB)

1832 Asset Management L.P. cut its holdings in HDFC Bank Limited (NYSE:HDB) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,341,998 shares of the bank’s stock after selling 738 shares during the quarter. 1832 Asset Management L.P. owned 0.07% of HDFC Bank worth $86,331,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HDB. Mount Yale Investment Advisors LLC boosted its position in HDFC Bank by 5.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock worth $393,000 after purchasing an additional 322 shares in the last quarter. Hancock Whitney Corp boosted its position in HDFC Bank by 121.1% during the second quarter. Hancock Whitney Corp now owns 11,406 shares of the bank’s stock worth $734,000 after purchasing an additional 6,248 shares in the last quarter. Oaktree Fund Advisors LLC boosted its position in HDFC Bank by 18.8% during the second quarter. Oaktree Fund Advisors LLC now owns 75,870 shares of the bank’s stock worth $4,881,000 after purchasing an additional 12,026 shares in the last quarter. Sei Investments Co. boosted its position in HDFC Bank by 6.7% during the second quarter. Sei Investments Co. now owns 1,673,460 shares of the bank’s stock worth $107,654,000 after purchasing an additional 104,829 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in HDFC Bank during the second quarter worth $38,006,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 1.4 %

Shares of NYSE:HDB opened at $65.73 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The stock’s fifty day simple moving average is $60.79 and its 200-day simple moving average is $59.34. The company has a market capitalization of $122.25 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.63 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. As a group, equities research analysts forecast that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on HDB shares. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

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.