Fiera Capital Corp Reduces Holdings in HDFC Bank Limited (NYSE:HDB)

Fiera Capital Corp cut its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,789,416 shares of the bank's stock after selling 655,148 shares during the period. HDFC Bank makes up 1.1% of Fiera Capital Corp's holdings, making the stock its 28th largest position. Fiera Capital Corp owned approximately 0.23% of HDFC Bank worth $362,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Portside Wealth Group LLC lifted its holdings in shares of HDFC Bank by 24.6% during the third quarter. Portside Wealth Group LLC now owns 8,731 shares of the bank's stock worth $546,000 after buying an additional 1,721 shares in the last quarter. Principal Financial Group Inc. increased its position in HDFC Bank by 31.5% during the 3rd quarter. Principal Financial Group Inc. now owns 47,225 shares of the bank's stock worth $2,954,000 after purchasing an additional 11,319 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of HDFC Bank by 62.8% in the 3rd quarter. Marks Group Wealth Management Inc now owns 21,597 shares of the bank's stock valued at $1,351,000 after acquiring an additional 8,335 shares during the last quarter. PDS Planning Inc acquired a new position in shares of HDFC Bank in the third quarter valued at approximately $569,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of HDFC Bank by 143.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,240,388 shares of the bank's stock valued at $77,599,000 after acquiring an additional 731,388 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

Shares of NYSE HDB traded up $0.34 during midday trading on Friday, hitting $64.10. 1,557,040 shares of the company's stock were exchanged, compared to its average volume of 2,996,559. The business's fifty day moving average price is $62.73 and its two-hundred day moving average price is $60.82. The company has a market cap of $162.31 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.64 and a beta of 0.91. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HDB. StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an "overweight" rating to a "neutral" rating in a report on Monday, July 22nd.

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.