Channel Wealth LLC Has $1.22 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Channel Wealth LLC cut its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 69.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,108 shares of the bank's stock after selling 42,997 shares during the quarter. Channel Wealth LLC's holdings in HDFC Bank were worth $1,220,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. raised its stake in HDFC Bank by 104.1% during the 3rd 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. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the third quarter valued at about $38,000. JFS Wealth Advisors LLC grew its position in HDFC Bank by 70.2% during the third 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. RPg Family Wealth Advisory LLC acquired a new stake in HDFC Bank during the third quarter worth about $65,000. Finally, GAMMA Investing LLC increased its stake in HDFC Bank by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank's stock valued at $76,000 after acquiring an additional 312 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

Shares of HDB stock traded down $0.25 during mid-day trading on Friday, reaching $58.39. The company's stock had a trading volume of 1,459,008 shares, compared to its average volume of 2,869,060. The firm's 50-day moving average is $64.13 and its two-hundred day moving average is $62.61. The company has a market cap of $147.87 billion, a P/E ratio of 17.75, a PEG ratio of 1.67 and a beta of 0.92. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $68.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. On average, research analysts predict that HDFC Bank Limited will post 3.13 earnings per share for the current year.

Analyst Ratings Changes

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

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.