BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stock Position in HDFC Bank Limited (NYSE:HDB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 54.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,614 shares of the bank’s stock after selling 101,454 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in HDFC Bank were worth $5,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in HDFC Bank by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after buying an additional 12,037 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in HDFC Bank by 34.5% in the 1st quarter. Advisors Asset Management Inc. now owns 24,400 shares of the bank’s stock worth $1,366,000 after purchasing an additional 6,261 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of HDFC Bank by 10.8% during the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock valued at $186,000 after purchasing an additional 325 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of HDFC Bank during the 1st quarter valued at about $4,374,000. Finally, Industrial Alliance Investment Management Inc. grew its position in shares of HDFC Bank by 36.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 7,922 shares of the bank’s stock valued at $443,000 after purchasing an additional 2,118 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Trading Up 1.4 %

Shares of HDB opened at $64.50 on Monday. The stock has a market capitalization of $163.33 billion, a PE ratio of 19.60, a P/E/G ratio of 1.69 and a beta of 0.91. The company’s fifty day moving average is $63.03 and its 200 day moving average is $61.21. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The firm had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. Sell-side analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

About HDFC Bank

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.