Atom Investors LP Sells 40,378 Shares of HDFC Bank Limited (NYSE:HDB)

Atom Investors LP decreased its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 45.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,990 shares of the bank's stock after selling 40,378 shares during the period. Atom Investors LP's holdings in HDFC Bank were worth $3,065,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HDB. Pin Oak Investment Advisors Inc. raised its holdings in shares of HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. Ridgewood Investments LLC bought a new stake in HDFC Bank in the 2nd quarter worth about $36,000. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank in the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC lifted its position in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock worth $42,000 after buying an additional 275 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank's stock worth $58,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Performance

Shares of NYSE:HDB traded down $0.32 during midday trading on Monday, reaching $66.44. The company had a trading volume of 2,551,032 shares, compared to its average volume of 3,006,623. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.76. The company's 50 day moving average price is $63.34 and its 200 day moving average price is $61.61. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $168.25 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.77 and a beta of 0.91.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The firm had revenue of $9.21 billion for the quarter, compared to analysts' expectations of $4.84 billion. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th.

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.