Institute for Wealth Management LLC. Reduces Stake in HDFC Bank Limited (NYSE:HDB)

Institute for Wealth Management LLC. reduced its stake in HDFC Bank Limited (NYSE:HDB) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,781 shares of the bank’s stock after selling 229 shares during the quarter. Institute for Wealth Management LLC.’s holdings in HDFC Bank were worth $318,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HDB. Northern Trust Corp grew its stake in shares of HDFC Bank by 52.0% in the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank’s stock valued at $64,855,000 after buying an additional 347,488 shares during the period. Tudor Investment Corp ET AL purchased a new position in HDFC Bank in the fourth quarter worth approximately $580,000. US Bancorp DE grew its position in HDFC Bank by 12.7% in the fourth quarter. US Bancorp DE now owns 157,665 shares of the bank’s stock worth $10,068,000 after acquiring an additional 17,800 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in HDFC Bank in the fourth quarter worth approximately $2,907,000. Finally, Ovata Capital Management Ltd grew its holdings in shares of HDFC Bank by 89.7% during the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank’s stock worth $43,863,000 after purchasing an additional 326,400 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th.

HDFC Bank Stock Performance

NYSE:HDB opened at $74.68 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.07. The stock has a market capitalization of $189.12 billion, a P/E ratio of 22.63, a PEG ratio of 1.77 and a beta of 0.64. The company has a 50 day moving average price of $73.40 and a 200 day moving average price of $66.27. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $77.76.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $434.68 billion. Equities research analysts forecast that HDFC Bank Limited will post 3.03 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.