Vontobel Holding Ltd. Sells 1,797,525 Shares of HDFC Bank Limited (NYSE:HDB)

Vontobel Holding Ltd. lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 90.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,193 shares of the bank's stock after selling 1,797,525 shares during the period. Vontobel Holding Ltd.'s holdings in HDFC Bank were worth $12,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Glenmede Trust Co. NA grew its stake in HDFC Bank by 3.6% during the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank's stock worth $301,000 after buying an additional 167 shares during the period. Commerce Bank increased its holdings in shares of HDFC Bank by 7.0% in the 3rd quarter. Commerce Bank now owns 3,427 shares of the bank's stock worth $214,000 after acquiring an additional 225 shares during the period. Pin Oak Investment Advisors Inc. increased 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 buying an additional 254 shares during the period. Mount Yale Investment Advisors LLC increased its stake in HDFC Bank by 4.2% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank's stock valued at $399,000 after buying an additional 257 shares during the period. Finally, Baron Wealth Management LLC increased its stake in HDFC Bank by 3.7% during the 4th quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock valued at $470,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on HDB shares. StockNews.com cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, Nomura raised shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

HDB traded up $0.28 during trading on Tuesday, reaching $60.51. 3,420,516 shares of the company's stock were exchanged, compared to its average volume of 2,665,656. HDFC Bank Limited has a fifty-two week low of $53.00 and a fifty-two week high of $68.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $61.93 and a 200 day moving average price of $62.41. The company has a market capitalization of $153.22 billion, a P/E ratio of 18.39, a PEG ratio of 1.70 and a beta of 0.91.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, analysts predict that HDFC Bank Limited will post 3.09 earnings per share for the current fiscal year.

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.