Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in HDFC Bank Limited (NYSE:HDB)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,191,982 shares of the bank's stock after selling 80,950 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in HDFC Bank were worth $74,570,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of HDB. Catalytic Wealth RIA LLC bought a new position in shares of HDFC Bank in the 3rd quarter worth about $216,000. River Global Investors LLP boosted its position in shares of HDFC Bank by 4.5% during the 3rd quarter. River Global Investors LLP now owns 28,324 shares of the bank's stock worth $1,772,000 after purchasing an additional 1,228 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of HDFC Bank by 7.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 69,492 shares of the bank's stock valued at $4,347,000 after buying an additional 4,764 shares during the period. Atria Investments Inc increased its position in HDFC Bank by 9.4% in the 3rd quarter. Atria Investments Inc now owns 48,111 shares of the bank's stock valued at $3,010,000 after buying an additional 4,119 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in HDFC Bank by 24.6% in the third quarter. Portside Wealth Group LLC now owns 8,731 shares of the bank's stock worth $546,000 after acquiring an additional 1,721 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered HDFC Bank from an "overweight" rating to a "neutral" rating in a research note on Monday, July 22nd.

HDFC Bank Stock Down 0.0 %

HDB stock traded down $0.01 on Friday, reaching $61.90. 2,375,136 shares of the company traded hands, compared to its average volume of 2,979,078. 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 firm has a fifty day simple moving average of $62.83 and a 200-day simple moving average of $60.94. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a market cap of $156.75 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS 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 analysts' expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Research analysts anticipate that HDFC Bank Limited will post 3.2 earnings per share for the current year.

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.