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

Van ECK Associates Corp lessened its position in shares of HDFC Bank Limited (NYSE:HDB) by 48.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,269 shares of the bank’s stock after selling 78,849 shares during the quarter. Van ECK Associates Corp’s holdings in HDFC Bank were worth $5,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in HDFC Bank by 2,567.2% during the third quarter. CWM LLC now owns 3,094 shares of the bank’s stock worth $194,000 after acquiring an additional 2,978 shares during the period. Creative Planning raised its position in shares of HDFC Bank by 26.0% during the 3rd quarter. Creative Planning now owns 130,768 shares of the bank’s stock worth $8,181,000 after purchasing an additional 26,983 shares during the last quarter. Raymond James & Associates lifted its stake in HDFC Bank by 2.7% in the 3rd quarter. Raymond James & Associates now owns 588,382 shares of the bank’s stock valued at $36,809,000 after buying an additional 15,238 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in HDFC Bank in the 3rd quarter valued at about $38,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in HDFC Bank in the 3rd quarter worth about $1,049,000. 17.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HDB shares. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Trading Up 0.5 %

HDB opened at $60.51 on Wednesday. HDFC Bank Limited has a 52 week low of $53.00 and a 52 week high of $68.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $61.93 and a 200-day simple moving average of $62.41. The firm has a market cap of $153.22 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.70 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, equities analysts expect that HDFC Bank Limited will post 3.09 earnings per share 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.