Intermede Investment Partners Ltd Sells 457,019 Shares of HDFC Bank Limited (NYSE:HDB)

Intermede Investment Partners Ltd decreased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,274,348 shares of the bank's stock after selling 457,019 shares during the period. HDFC Bank accounts for 2.2% of Intermede Investment Partners Ltd's portfolio, making the stock its 26th largest position. Intermede Investment Partners Ltd owned 0.05% of HDFC Bank worth $81,380,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HDB. Bennbridge Ltd bought a new stake in shares of HDFC Bank during the fourth quarter worth $9,233,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in HDFC Bank by 89.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,281,884 shares of the bank's stock worth $81,861,000 after buying an additional 604,035 shares during the last quarter. Egerton Capital UK LLP bought a new stake in shares of HDFC Bank in the 4th quarter valued at about $72,833,000. Farther Finance Advisors LLC lifted its position in shares of HDFC Bank by 13.9% in the fourth quarter. Farther Finance Advisors LLC now owns 3,328 shares of the bank's stock valued at $213,000 after buying an additional 407 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of HDFC Bank by 73.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 29,046 shares of the bank's stock worth $1,855,000 after buying an additional 12,271 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of NYSE HDB traded up $0.98 during mid-day trading on Monday, hitting $61.66. The company had a trading volume of 2,060,557 shares, compared to its average volume of 2,500,171. The stock's 50-day moving average price is $60.00 and its 200-day moving average price is $62.42. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 1 year low of $54.07 and a 1 year high of $68.50. The company has a market capitalization of $156.13 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 2.12 and a beta of 0.92.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share 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%. On average, sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current 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.