Nomura Asset Management Co. Ltd. Sells 41,536 Shares of HDFC Bank Limited $HDB

Nomura Asset Management Co. Ltd. trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 277,501 shares of the bank’s stock after selling 41,536 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in HDFC Bank were worth $21,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HDB. Central Pacific Bank Trust Division purchased a new stake in HDFC Bank during the second quarter valued at approximately $29,000. Roxbury Financial LLC purchased a new position in HDFC Bank in the second quarter worth $30,000. Larson Financial Group LLC increased its position in shares of HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares in the last quarter. Finally, NewSquare Capital LLC lifted its holdings in shares of HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB stock opened at $37.15 on Wednesday. The business has a fifty day moving average of $35.63 and a 200 day moving average of $36.72. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The firm has a market capitalization of $189.49 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69.

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

Analyst Ratings Changes

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

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.