HDFC Bank Limited (NYSE:HDB) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lessened its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,724 shares of the bank's stock after selling 11,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in HDFC Bank were worth $1,714,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HDB. Cetera Investment Advisers increased its holdings in shares of HDFC Bank by 2.4% during the 2nd quarter. Cetera Investment Advisers now owns 14,979 shares of the bank's stock valued at $964,000 after purchasing an additional 358 shares in the last quarter. GAMMA Investing LLC increased its holdings in HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank's stock valued at $76,000 after buying an additional 312 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of HDFC Bank by 76.5% in the third quarter. Atomi Financial Group Inc. now owns 13,563 shares of the bank's stock worth $849,000 after acquiring an additional 5,878 shares during the period. CWM LLC boosted its stake in shares of HDFC Bank by 2,567.2% during the 3rd quarter. CWM LLC now owns 3,094 shares of the bank's stock worth $194,000 after acquiring an additional 2,978 shares in the last quarter. Finally, Perpetual Ltd grew its position in shares of HDFC Bank by 6.2% during the 3rd quarter. Perpetual Ltd now owns 1,088,671 shares of the bank's stock valued at $68,107,000 after acquiring an additional 63,507 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research 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 Trading Down 1.0 %

Shares of NYSE HDB traded down $0.61 during mid-day trading on Monday, reaching $60.61. 1,417,691 shares of the company's stock were exchanged, compared to its average volume of 2,634,728. The firm has a market capitalization of $153.49 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.70 and a beta of 0.91. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $68.50. The company's 50-day moving average is $62.76 and its 200-day moving average is $62.41. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Analysts expect that HDFC Bank Limited will post 3.09 EPS for the current fiscal year.

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.