D1 Capital Partners L.P. Sells 2,400,960 Shares of HDFC Bank Limited (NYSE:HDB)

D1 Capital Partners L.P. cut its stake in shares of HDFC Bank Limited (NYSE:HDB) by 41.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,431,998 shares of the bank’s stock after selling 2,400,960 shares during the period. HDFC Bank comprises about 3.7% of D1 Capital Partners L.P.’s holdings, making the stock its 9th biggest holding. D1 Capital Partners L.P. owned 0.18% of HDFC Bank worth $220,780,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal London Asset Management Ltd. raised its position in shares of HDFC Bank by 234.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock worth $448,970,000 after purchasing an additional 4,687,487 shares during the last quarter. Capital World Investors raised its holdings in shares of HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after acquiring an additional 2,788,197 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of HDFC Bank in the second quarter valued at approximately $166,709,000. PineStone Asset Management Inc. boosted its stake in shares of HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after acquiring an additional 2,391,343 shares during the last quarter. Finally, Harding Loevner LP increased its position in shares of HDFC Bank by 31.7% during the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after purchasing an additional 2,276,203 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of HDB stock opened at $65.73 on Monday. The firm’s 50-day moving average is $60.79 and its two-hundred day moving average is $59.34. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44. The company has a market capitalization of $122.25 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

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

Analyst Ratings Changes

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

HDFC Bank 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.