SYSTM Wealth Solutions LLC Sells 3,505 Shares of HDFC Bank Limited (NYSE:HDB)

SYSTM Wealth Solutions LLC cut its position in HDFC Bank Limited (NYSE:HDB) by 58.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,493 shares of the bank’s stock after selling 3,505 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in HDFC Bank were worth $161,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HDB. Breakout Capital Partners LP purchased a new stake in HDFC Bank in the fourth quarter valued at about $18,894,000. CIBC Private Wealth Group LLC lifted its position in HDFC Bank by 2.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock valued at $62,407,000 after purchasing an additional 21,265 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of HDFC Bank during the 2nd quarter valued at about $166,709,000. Sei Investments Co. raised its position in HDFC Bank by 0.8% during the fourth quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock valued at $111,481,000 after acquiring an additional 13,610 shares in the last quarter. Finally, Alberta Investment Management Corp grew its stake in shares of HDFC Bank by 140.3% during the 4th quarter. Alberta Investment Management Corp now owns 657,660 shares of the bank’s stock worth $44,136,000 after purchasing an additional 383,939 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.7 %

HDB opened at $63.44 on Thursday. 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 twelve month low of $52.16 and a twelve month high of $67.44. The company has a market cap of $117.99 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The company has a 50-day moving average price of $60.60 and a 200 day moving average price of $59.17.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping 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 firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Sell-side analysts expect that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

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.