Baillie Gifford & Co. Has $522.45 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Baillie Gifford & Co. reduced its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,351,216 shares of the bank's stock after selling 3,181,999 shares during the quarter. Baillie Gifford & Co. owned 0.33% of HDFC Bank worth $522,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Catalytic Wealth RIA LLC acquired a new position in HDFC Bank in the third quarter valued at $216,000. River Global Investors LLP boosted its position in shares of HDFC Bank by 4.5% in the third quarter. River Global Investors LLP now owns 28,324 shares of the bank's stock worth $1,772,000 after buying an additional 1,228 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in HDFC Bank by 7.4% in the third quarter. Crossmark Global Holdings Inc. now owns 69,492 shares of the bank's stock valued at $4,347,000 after purchasing an additional 4,764 shares during the last quarter. Atria Investments Inc boosted its holdings in HDFC Bank by 9.4% in the third quarter. Atria Investments Inc now owns 48,111 shares of the bank's stock valued at $3,010,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Portside Wealth Group LLC raised its stake in HDFC Bank by 24.6% during the third quarter. Portside Wealth Group LLC now owns 8,731 shares of the bank's stock valued at $546,000 after buying an additional 1,721 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 3.6 %

Shares of HDFC Bank stock traded down $2.32 during midday trading on Tuesday, hitting $62.20. The company's stock had a trading volume of 1,043,380 shares, compared to its average volume of 2,982,725. The firm has a market capitalization of $157.51 billion, a P/E ratio of 19.61, a PEG ratio of 1.68 and a beta of 0.91. The stock has a 50-day simple moving average of $62.80 and a 200-day simple moving average of $60.90. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. The company had revenue of $9.21 billion for the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.2 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on HDB shares. StockNews.com upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday. JPMorgan Chase & Co. lowered HDFC Bank from an "overweight" rating to a "neutral" rating in a research note on Monday, July 22nd.

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.