Sustainable Growth Advisers LP Reduces Stake in HDFC Bank Limited $HDB

Sustainable Growth Advisers LP reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,366,683 shares of the bank’s stock after selling 436,814 shares during the quarter. HDFC Bank accounts for approximately 2.9% of Sustainable Growth Advisers LP’s holdings, making the stock its 15th biggest position. Sustainable Growth Advisers LP’s holdings in HDFC Bank were worth $564,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New Vernon Capital Holdings II LLC purchased a new stake in HDFC Bank in the first quarter worth about $1,546,956,000. GQG Partners LLC increased its holdings in HDFC Bank by 105.5% in the 1st quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after acquiring an additional 8,313,645 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in HDFC Bank by 3,715.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after acquiring an additional 4,089,647 shares during the period. Royal Bank of Canada lifted its holdings in HDFC Bank by 53.5% during the first quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after purchasing an additional 3,907,637 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of HDFC Bank in the first quarter worth approximately $178,342,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 0.3%

HDB stock opened at $36.39 on Friday. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The business’s fifty day simple moving average is $35.56 and its two-hundred day simple moving average is $36.71. The firm has a market cap of $185.64 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.92 and a beta of 0.69.

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

Wall Street Analysts Forecast Growth

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

HDFC Bank Company 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.