Bank of New York Mellon Corp Sells 68,167 Shares of HDFC Bank Limited (NYSE:HDB)

Bank of New York Mellon Corp trimmed its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,259,177 shares of the bank's stock after selling 68,167 shares during the quarter. Bank of New York Mellon Corp owned 0.09% of HDFC Bank worth $144,271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd boosted its position in shares of HDFC Bank by 1.6% in the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank's stock valued at $523,453,000 after acquiring an additional 132,445 shares during the period. FMR LLC boosted its holdings in HDFC Bank by 19.3% in the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank's stock valued at $430,339,000 after purchasing an additional 1,114,210 shares during the period. Franklin Resources Inc. grew its position in shares of HDFC Bank by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank's stock worth $420,477,000 after purchasing an additional 560,880 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank's stock worth $317,141,000 after purchasing an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of HDFC Bank by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank's stock worth $302,970,000 after purchasing an additional 51,736 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Nomura Securities raised HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th. Finally, Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of NYSE HDB traded down $0.67 during trading hours on Tuesday, hitting $59.98. 1,528,017 shares of the stock were exchanged, compared to its average volume of 2,590,955. The company's fifty day simple moving average is $60.80 and its two-hundred day simple moving average is $62.47. The company has a market cap of $151.89 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a 1-year low of $54.07 and a 1-year high of $68.50.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

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.