National Bank of Canada FI Sells 316,310 Shares of HDFC Bank Limited (NYSE:HDB)

National Bank of Canada FI cut its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 85.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,864 shares of the bank's stock after selling 316,310 shares during the quarter. National Bank of Canada FI's holdings in HDFC Bank were worth $3,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HDB. Castleark Management LLC lifted its position in shares of HDFC Bank by 110.0% during the third quarter. Castleark Management LLC now owns 23,390 shares of the bank's stock worth $1,463,000 after purchasing an additional 12,250 shares in the last quarter. Insigneo Advisory Services LLC bought a new position in shares of HDFC Bank during the third quarter worth about $246,000. Wellington Management Group LLP boosted its position in HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank's stock valued at $317,141,000 after purchasing an additional 108,312 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in shares of HDFC Bank by 1.6% during the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank's stock worth $523,453,000 after acquiring an additional 132,445 shares during the period. Finally, State Street Corp raised its holdings in HDFC Bank by 15.8% in the 3rd quarter. State Street Corp now owns 513,684 shares of the bank's stock valued at $32,136,000 after acquiring an additional 70,071 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Up 0.6 %

Shares of NYSE HDB traded up $0.38 during trading on Friday, hitting $67.00. The stock had a trading volume of 2,005,780 shares, compared to its average volume of 3,002,899. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $68.50. The firm has a fifty day moving average of $64.05 and a two-hundred day moving average of $62.27. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $169.66 billion, a PE ratio of 20.36, a PEG ratio of 1.79 and a beta of 0.92.

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

Analyst Upgrades and Downgrades

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

HDFC Bank 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.