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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