Van ECK Associates Corp Reduces Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Van ECK Associates Corp lessened its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,269 shares of the bank's stock after selling 78,849 shares during the quarter. Van ECK Associates Corp's holdings in HDFC Bank were worth $5,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. increased its position in 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 buying an additional 254 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of HDFC Bank in the third quarter worth $38,000. JFS Wealth Advisors LLC grew its position in HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock worth $42,000 after purchasing an additional 275 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in HDFC Bank during the third quarter valued at approximately $65,000. Finally, Brooklyn Investment Group lifted its stake in shares of HDFC Bank by 967.0% in the 4th quarter. Brooklyn Investment Group now owns 1,878 shares of the bank's stock valued at $120,000 after purchasing an additional 1,702 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HDB. StockNews.com downgraded HDFC Bank from a "hold" rating to a "sell" rating in a research 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 raised HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

HDFC Bank Trading Down 0.2 %

Shares of NYSE:HDB traded down $0.12 during midday trading on Friday, reaching $59.46. 2,124,666 shares of the company's stock were exchanged, compared to its average volume of 2,660,032. 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 $150.56 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.17 and a beta of 0.91. The firm's 50 day simple moving average is $61.51 and its two-hundred day simple moving average is $62.39. HDFC Bank Limited has a fifty-two week low of $53.00 and a fifty-two week high of $68.50.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, sell-side analysts forecast that HDFC Bank Limited will post 3.03 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.