Burgundy Asset Management Ltd. Sells 11,100 Shares of HDFC Bank Limited (NYSE:HDB)

Burgundy Asset Management Ltd. reduced its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 360,080 shares of the bank's stock after selling 11,100 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in HDFC Bank were worth $23,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FIL Ltd increased its stake 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 worth $912,313,000 after purchasing an additional 1,326,574 shares in the last quarter. Baillie Gifford & Co. increased its stake in HDFC Bank by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock worth $741,932,000 after buying an additional 263,690 shares in the last quarter. Harding Loevner LP raised its holdings in HDFC Bank by 31.7% during the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank's stock valued at $621,646,000 after acquiring an additional 2,276,203 shares during the period. Sustainable Growth Advisers LP lifted its position in shares of HDFC Bank by 24.1% in the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank's stock valued at $493,884,000 after acquiring an additional 1,711,784 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of HDFC Bank by 1.6% in the fourth quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank's stock worth $581,679,000 after acquiring an additional 133,791 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HDB shares. StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a report on Thursday, June 13th. JPMorgan Chase & Co. cut shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a research report on Monday, July 22nd.

HDFC Bank Price Performance

Shares of HDFC Bank stock traded up $1.34 during trading on Thursday, reaching $64.80. 1,955,568 shares of the stock traded hands, compared to its average volume of 3,088,857. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day simple moving average of $60.69 and a two-hundred day simple moving average of $59.21. The company has a market capitalization of $120.52 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.63 and a beta of 0.92.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to analysts' expectations of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. Sell-side analysts expect that HDFC Bank Limited will post 2.97 EPS 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.