Healthcare of Ontario Pension Plan Trust Fund Trims Stake in HDFC Bank Limited (NYSE:HDB)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,150,000 shares of the bank's stock after selling 1,035,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in HDFC Bank were worth $71,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HDB. Vanguard Group Inc. increased its stake in HDFC Bank by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 122,023 shares of the bank's stock worth $6,830,000 after acquiring an additional 12,037 shares during the last quarter. Toronto Dominion Bank lifted its position in HDFC Bank by 10.8% during the first quarter. Toronto Dominion Bank now owns 3,328 shares of the bank's stock valued at $186,000 after purchasing an additional 325 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of HDFC Bank in the 1st quarter worth $222,000. Hancock Whitney Corp purchased a new stake in shares of HDFC Bank during the 1st quarter valued at about $289,000. Finally, LBP AM SA lifted its holdings in shares of HDFC Bank by 10.5% in the 1st quarter. LBP AM SA now owns 71,689 shares of the bank's stock valued at $4,012,000 after acquiring an additional 6,800 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 1.3 %

Shares of HDB traded up $0.85 during midday trading on Wednesday, hitting $67.50. The stock had a trading volume of 5,700,010 shares, compared to its average volume of 3,009,986. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.76. 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 stock's 50 day moving average is $63.18 and its 200 day moving average is $61.37. The firm has a market cap of $170.93 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The business 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, analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, November 8th.

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.