Truist Financial Corp Decreases Holdings in HDFC Bank Limited (NYSE:HDB)

Truist Financial Corp trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,065 shares of the bank’s stock after selling 1,537 shares during the period. Truist Financial Corp’s holdings in HDFC Bank were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. increased its position in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares in the last quarter. JFS Wealth Advisors LLC increased its position in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after acquiring an additional 275 shares during the period. Sierra Ocean LLC acquired a new position in HDFC Bank in the 4th quarter valued at about $42,000. RPg Family Wealth Advisory LLC acquired a new position in HDFC Bank in the 3rd quarter valued at about $65,000. Finally, Brooklyn Investment Group increased its position in HDFC Bank by 967.0% in the 4th quarter. Brooklyn Investment Group now owns 1,878 shares of the bank’s stock valued at $120,000 after acquiring an additional 1,702 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

NYSE HDB opened at $60.13 on Wednesday. The business’s 50 day moving average is $61.11 and its two-hundred day moving average is $62.44. The stock has a market capitalization of $152.25 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.12 and a beta of 0.91. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 12-month low of $53.00 and a 12-month high of $68.50.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

HDB has been the topic of several recent research reports. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.