National Bank of Canada FI Reduces Position in HDFC Bank Limited (NYSE:HDB)

National Bank of Canada FI lessened its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 67.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 369,174 shares of the bank's stock after selling 755,322 shares during the quarter. National Bank of Canada FI's holdings in HDFC Bank were worth $23,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FIL Ltd increased its position in shares of HDFC Bank by 10.8% in the fourth quarter. FIL Ltd now owns 13,594,291 shares of the bank's stock valued at $912,313,000 after buying an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock valued at $741,932,000 after buying an additional 263,690 shares during the period. Harding Loevner LP grew its holdings in shares of HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank's stock worth $621,646,000 after purchasing an additional 2,276,203 shares during the period. Sustainable Growth Advisers LP raised its holdings in HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank's stock valued at $493,884,000 after buying an additional 1,711,784 shares during the period. Finally, Schroder Investment Management Group boosted its stake in HDFC Bank by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank's stock worth $581,679,000 after buying an additional 133,791 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Down 0.7 %

Shares of NYSE:HDB traded down $0.44 on Friday, hitting $60.51. 2,784,805 shares of the company's stock were exchanged, compared to its average volume of 3,118,064. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a market capitalization of $112.54 billion, a PE ratio of 18.56, a P/E/G ratio of 1.62 and a beta of 0.92. The firm's 50-day moving average is $60.83 and its 200 day moving average is $58.70.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. Sell-side analysts predict that HDFC Bank Limited will post 2.98 EPS for the current year.

Analyst Upgrades and Downgrades

HDB has been the topic of several research reports. StockNews.com cut shares of HDFC Bank from a "hold" rating to a "sell" rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a research report on Monday, July 22nd.

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.