SPX Gestao de Recursos Ltda Sells 53,216 Shares of HDFC Bank Limited (NYSE:HDB)

SPX Gestao de Recursos Ltda lessened its stake in HDFC Bank Limited (NYSE:HDB) by 50.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,217 shares of the bank’s stock after selling 53,216 shares during the period. SPX Gestao de Recursos Ltda’s holdings in HDFC Bank were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its position in HDFC Bank by 2.4% during the second quarter. Cetera Investment Advisers now owns 14,979 shares of the bank’s stock valued at $964,000 after purchasing an additional 358 shares during the period. Brandes Investment Partners LP boosted its position in shares of HDFC Bank by 11.4% during the 2nd quarter. Brandes Investment Partners LP now owns 54,527 shares of the bank’s stock valued at $3,520,000 after acquiring an additional 5,572 shares during the last quarter. Creative Planning increased its stake in HDFC Bank by 82.8% during the second quarter. Creative Planning now owns 103,785 shares of the bank’s stock worth $6,676,000 after acquiring an additional 47,005 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of HDFC Bank by 18.1% in the 2nd quarter. Millennium Management LLC now owns 2,864,145 shares of the bank’s stock worth $184,250,000 after acquiring an additional 438,750 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in HDFC Bank during the 2nd quarter valued at about $56,961,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HDB. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Down 2.8 %

Shares of NYSE HDB opened at $62.56 on Tuesday. The firm has a fifty day moving average of $61.37 and a 200-day moving average of $59.72. The stock has a market capitalization of $116.36 billion, a PE ratio of 19.19, a P/E/G ratio of 1.76 and a beta of 0.92. 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.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. On average, analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current year.

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.