HDFC Bank Limited (NYSE:HDB) Shares Sold by Dalton Investments LLC

Dalton Investments LLC cut its holdings in HDFC Bank Limited (NYSE:HDB) by 38.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,385 shares of the bank’s stock after selling 11,015 shares during the quarter. HDFC Bank comprises approximately 1.0% of Dalton Investments LLC’s portfolio, making the stock its 21st largest holding. Dalton Investments LLC’s holdings in HDFC Bank were worth $2,261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. increased its stake in HDFC Bank by 67.8% in 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. Nkcfo LLC acquired a new position in HDFC Bank in the second quarter valued at $39,000. Manchester Financial Inc. acquired a new position in HDFC Bank in the second quarter valued at $51,000. Advisors Preferred LLC acquired a new position in HDFC Bank in the second quarter valued at $53,000. Finally, West Oak Capital LLC acquired a new position in HDFC Bank in the second quarter valued at $72,000. Institutional investors own 19.37% of the company’s stock.

HDB has been the topic of a number of recent research reports. Nomura lowered shares of HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 price objective on the stock. in a research note on Tuesday, June 11th. Zacks Investment Research lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Sanford C. Bernstein lowered shares of HDFC Bank from an “outperform” rating to a “market perform” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $136.82.

NYSE HDB 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 firm has a market cap of $89.35 billion, a PE ratio of 31.60, a P/E/G ratio of 1.17 and a beta of 0.45. HDFC Bank Limited has a one year low of $85.43 and a one year high of $131.78. The firm’s fifty day moving average is $109.91 and its two-hundred day moving average is $116.23.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, July 20th. The bank reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.03). The firm had revenue of $4.65 billion during the quarter. HDFC Bank had a net margin of 17.98% and a return on equity of 13.23%. Research analysts predict that HDFC Bank Limited will post 3.97 earnings per share 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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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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