Van ECK Associates Corp Has $10.40 Million Stake in HDFC Bank Limited (NYSE:HDB)

Van ECK Associates Corp trimmed its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,118 shares of the bank's stock after selling 21,791 shares during the period. Van ECK Associates Corp's holdings in HDFC Bank were worth $10,403,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in HDFC Bank by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock worth $741,932,000 after acquiring an additional 263,690 shares in the last quarter. Sustainable Growth Advisers LP lifted its stake in HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank's stock worth $493,884,000 after acquiring an additional 1,711,784 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in HDFC Bank by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank's stock worth $308,214,000 after acquiring an additional 486,653 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in HDFC Bank by 115.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank's stock worth $287,488,000 after acquiring an additional 2,391,343 shares in the last quarter. Finally, Capital World Investors lifted its stake in HDFC Bank by 208.6% in the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank's stock worth $230,862,000 after acquiring an additional 2,788,197 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 1.6 %

HDB stock traded down $1.01 during mid-day trading on Thursday, hitting $63.45. The stock had a trading volume of 597,947 shares, compared to its average volume of 2,998,537. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a fifty day moving average of $62.61 and a 200 day moving average of $60.76. The stock has a market capitalization of $160.67 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.64 and a beta of 0.91.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an "overweight" rating to a "neutral" rating in a research report on Monday, July 22nd.

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.