Quantinno Capital Management LP Sells 63,860 Shares of HDFC Bank Limited $HDB

Quantinno Capital Management LP reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 20.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,416 shares of the bank’s stock after selling 63,860 shares during the quarter. Quantinno Capital Management LP’s holdings in HDFC Bank were worth $6,230,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its position in HDFC Bank by 16,808.5% in the 1st quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank’s stock valued at $447,289,000 after purchasing an additional 17,871,520 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of HDFC Bank by 31.0% during the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock worth $1,457,865,000 after purchasing an additional 9,451,992 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after purchasing an additional 7,864,692 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after buying an additional 6,386,002 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of HDFC Bank by 98.3% in the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock valued at $421,466,000 after buying an additional 6,115,797 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HDB has been the topic of several research reports. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, HDFC Bank has a consensus rating of “Hold”.

HDFC Bank Stock Performance

NYSE HDB opened at $23.88 on Thursday. The stock has a market capitalization of $121.82 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 1.13 and a beta of 0.65. HDFC Bank Limited has a 52 week low of $22.66 and a 52 week high of $38.29. The stock has a fifty day moving average of $24.73 and a 200-day moving average of $27.13.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%. Equities research analysts forecast that HDFC Bank Limited will post 1.67 earnings per share for the current fiscal year.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).