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WCM Investment Management LLC Sells 12,873 Shares of HDFC Bank Limited (NYSE:HDB)

HDFC Bank logo with Finance background

WCM Investment Management LLC reduced its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 25.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,116 shares of the bank's stock after selling 12,873 shares during the quarter. WCM Investment Management LLC's holdings in HDFC Bank were worth $2,453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new stake in shares of HDFC Bank during the 2nd quarter worth approximately $36,000. Northwest Investment Counselors LLC purchased a new position in HDFC Bank during the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its holdings in HDFC Bank by 70.2% in the third 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 period. LRI Investments LLC purchased a new position in shares of HDFC Bank in the 1st quarter valued at about $56,000. Finally, GAMMA Investing LLC raised its position in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank's stock worth $58,000 after purchasing an additional 324 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HDB has been the topic of several recent analyst reports. StockNews.com upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday. JPMorgan Chase & Co. downgraded HDFC Bank from an "overweight" rating to a "neutral" rating in a research note on Monday, July 22nd.

Check Out Our Latest Analysis on HDFC Bank

HDFC Bank Trading Down 3.7 %

NYSE HDB traded down $2.38 during trading hours on Tuesday, hitting $62.14. 2,793,328 shares of the company's stock were exchanged, compared to its average volume of 2,986,894. The firm has a market capitalization of $157.36 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The business's 50 day moving average is $62.80 and its 200-day moving average is $60.90. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. As a group, analysts anticipate that HDFC Bank Limited will post 3.2 EPS for the current fiscal year.

HDFC Bank Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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