SPX Gestao de Recursos Ltda Sells 53,216 Shares of HDFC Bank Limited (NYSE:HDB)

SPX Gestao de Recursos Ltda cut its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 50.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,217 shares of the bank's stock after selling 53,216 shares during the period. SPX Gestao de Recursos Ltda's holdings in HDFC Bank were worth $3,423,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HDB. FIL Ltd lifted its position in shares of HDFC Bank by 10.8% during 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 during the last quarter. Baillie Gifford & Co. raised its position in shares of HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock worth $741,932,000 after purchasing an additional 263,690 shares during the period. Harding Loevner LP boosted its stake in HDFC Bank by 31.7% in 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 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 worth $493,884,000 after purchasing 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% during the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank's stock valued at $581,679,000 after buying an additional 133,791 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

HDFC Bank Stock Down 0.3 %

Shares of HDFC Bank stock traded down $0.16 during trading hours on Tuesday, reaching $62.40. 4,201,261 shares of the company's stock were exchanged, compared to its average volume of 3,116,971. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $61.37 and a two-hundred day moving average of $59.72. The stock has a market cap of $116.06 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.76 and a beta of 0.92. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.27. The firm had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, sell-side analysts forecast that HDFC Bank Limited will post 2.97 EPS for the current fiscal 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.