Earnest Partners LLC reduced its stake in HDFC Bank Limited (NYSE:HDB) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,371,554 shares of the bank’s stock after selling 10,807 shares during the period. HDFC Bank accounts for approximately 1.6% of Earnest Partners LLC’s investment portfolio, making the stock its 5th biggest position. Earnest Partners LLC’s holdings in HDFC Bank were worth $178,357,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in HDFC Bank by 0.8% in the first quarter. Rockefeller Capital Management L.P. now owns 10,346 shares of the bank’s stock valued at $1,199,000 after acquiring an additional 87 shares during the period. Natixis grew its holdings in HDFC Bank by 1.2% during the second quarter. Natixis now owns 8,396 shares of the bank’s stock valued at $1,092,000 after purchasing an additional 99 shares during the period. World Asset Management Inc grew its holdings in HDFC Bank by 0.9% during the second quarter. World Asset Management Inc now owns 13,134 shares of the bank’s stock valued at $1,708,000 after purchasing an additional 113 shares during the period. Capital Insight Partners LLC grew its holdings in HDFC Bank by 1.4% during the second quarter. Capital Insight Partners LLC now owns 8,648 shares of the bank’s stock valued at $1,125,000 after purchasing an additional 116 shares during the period. Finally, American Beacon Advisors Inc. grew its holdings in HDFC Bank by 67.8% during the first quarter. American Beacon Advisors Inc. now owns 292 shares of the bank’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 19.37% of the company’s stock.
HDB has been the topic of a number of research reports. Zacks Investment Research lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Tuesday. Sanford C. Bernstein lowered shares of HDFC Bank from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Nomura downgraded shares of HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 price objective on the stock. in a report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. HDFC Bank presently has an average rating of “Hold” and a consensus target price of $136.82.
HDB stock opened at $104.92 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96. The company’s 50-day simple moving average is $109.91 and its 200 day simple moving average is $116.23. HDFC Bank Limited has a 52 week low of $85.43 and a 52 week high of $131.78. The company has a market capitalization of $89.35 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.45.
HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, July 20th. The bank reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.03). HDFC Bank had a net margin of 17.98% and a return on equity of 13.23%. The business had revenue of $4.65 billion during the quarter. On average, analysts forecast that HDFC Bank Limited will post 3.97 EPS for the current year.
HDFC Bank Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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