HDFC Bank Limited $HDB Shares Sold by Tobam

Tobam reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 11.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 33,447 shares of the bank’s stock after selling 4,204 shares during the quarter. Tobam’s holdings in HDFC Bank were worth $2,564,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of HDB. Central Pacific Bank Trust Division bought a new position in shares of HDFC Bank during the second quarter valued at approximately $29,000. Roxbury Financial LLC bought a new stake in HDFC Bank in the 2nd quarter valued at about $30,000. Larson Financial Group LLC boosted its stake in HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after purchasing an additional 426 shares during the period. Whipplewood Advisors LLC lifted its holdings in HDFC Bank by 112.0% in the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in HDFC Bank by 448.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after buying an additional 507 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on HDB shares. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

HDFC Bank Price Performance

NYSE HDB opened at $36.73 on Wednesday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The stock’s 50-day moving average is $35.50 and its two-hundred day moving average is $36.71. The firm has a market cap of $187.36 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

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.