Mawer Investment Management Ltd. Cuts Stake in HDFC Bank Limited (NYSE:HDB)

Mawer Investment Management Ltd. trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 3.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,369,370 shares of the bank’s stock after selling 48,248 shares during the period. Mawer Investment Management Ltd.’s holdings in HDFC Bank were worth $90,981,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of HDFC Bank by 6.8% during the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank’s stock valued at $159,000 after acquiring an additional 153 shares during the last quarter. DMC Group LLC boosted its holdings in shares of HDFC Bank by 2.5% during the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank’s stock valued at $493,000 after acquiring an additional 181 shares during the last quarter. Platform Technology Partners boosted its holdings in shares of HDFC Bank by 2.7% during the 1st quarter. Platform Technology Partners now owns 7,644 shares of the bank’s stock valued at $508,000 after acquiring an additional 201 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of 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 last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in shares of HDFC Bank by 3.6% during the 4th quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank’s stock valued at $438,000 after acquiring an additional 241 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 1.4%

Shares of NYSE HDB opened at $76.75 on Tuesday. The firm’s 50-day moving average price is $75.68 and its 200-day moving average price is $68.44. The company has a market cap of $194.35 billion, a PE ratio of 23.54, a PEG ratio of 1.94 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $57.24 and a 52-week high of $79.61.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday.

HDFC Bank Profile

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.