Ninety One SA PTY Ltd Reduces Position in HDFC Bank Limited (NYSE:HDB)

Ninety One SA PTY Ltd lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,050 shares of the bank's stock after selling 15,704 shares during the quarter. Ninety One SA PTY Ltd's holdings in HDFC Bank were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Pin Oak Investment Advisors Inc. raised its position in shares of 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 purchasing an additional 254 shares during the period. Northwest Investment Counselors LLC bought a new stake in HDFC Bank in the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC increased its holdings in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in HDFC Bank in the 3rd quarter valued at $65,000. Finally, GAMMA Investing LLC increased its holdings in HDFC Bank by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank's stock valued at $76,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock traded down $0.73 during trading hours on Friday, reaching $61.22. The company's stock had a trading volume of 1,568,586 shares, compared to its average volume of 2,622,650. The firm has a 50 day moving average price of $62.76 and a 200-day moving average price of $62.38. HDFC Bank Limited has a one year low of $52.16 and a one year high of $68.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $155.03 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.70 and a beta of 0.91.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts predict that HDFC Bank Limited will post 3.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HDB shares. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th. Finally, Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 23rd.

HDFC Bank Company 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.