Alberta Investment Management Corp Cuts Stock Position in HDFC Bank Limited (NYSE:HDB)

Alberta Investment Management Corp lessened its stake in HDFC Bank Limited (NYSE:HDB) by 50.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 82,623 shares of the bank’s stock after selling 82,973 shares during the quarter. Alberta Investment Management Corp’s holdings in HDFC Bank were worth $5,489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in HDFC Bank by 52.0% in the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank’s stock valued at $64,855,000 after purchasing an additional 347,488 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of HDFC Bank during the fourth quarter worth about $580,000. Ovata Capital Management Ltd grew its stake in shares of HDFC Bank by 89.7% during the fourth quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank’s stock worth $43,863,000 after acquiring an additional 326,400 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of HDFC Bank by 7.2% during the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank’s stock worth $103,246,000 after acquiring an additional 104,162 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of HDFC Bank by 111.7% during the fourth quarter. First Trust Advisors LP now owns 39,109 shares of the bank’s stock worth $2,498,000 after acquiring an additional 20,633 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB stock opened at $77.00 on Friday. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $79.61. The firm has a market capitalization of $194.99 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.91 and a beta of 0.64. The stock’s 50-day simple moving average is $75.98 and its 200-day simple moving average is $68.81.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

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.