Bank of New York Mellon Corp Reduces Holdings in HDFC Bank Limited (NYSE:HDB)

Bank of New York Mellon Corp trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,245,746 shares of the bank’s stock after selling 13,431 shares during the period. Bank of New York Mellon Corp owned 0.09% of HDFC Bank worth $149,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graney & King LLC purchased a new position in HDFC Bank during the 4th quarter valued at about $38,000. Brown Brothers Harriman & Co. lifted its position in HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after acquiring an additional 240 shares during the period. NBC Securities Inc. purchased a new position in HDFC Bank during the 1st quarter valued at about $55,000. Atlas Capital Advisors Inc. purchased a new position in HDFC Bank during the 4th quarter valued at about $56,000. Finally, Pinnacle Bancorp Inc. lifted its position in HDFC Bank by 109.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank’s stock valued at $56,000 after acquiring an additional 443 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Up 0.9%

Shares of HDFC Bank stock opened at $76.16 on Wednesday. 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 $192.86 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $78.14. The company has a 50-day simple moving average of $74.47 and a two-hundred day simple moving average of $67.07.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. On average, analysts anticipate 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.