HDFC Bank Limited $HDB Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,658 shares of the bank’s stock after selling 25,206 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in HDFC Bank were worth $10,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HDB. Central Pacific Bank Trust Division acquired a new stake in HDFC Bank during the second quarter valued at approximately $29,000. Roxbury Financial LLC acquired a new stake in HDFC Bank during the second quarter valued at approximately $30,000. Larson Financial Group LLC lifted its stake in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after purchasing an additional 507 shares during the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after purchasing an additional 290 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Up 1.0%

HDB stock opened at $36.81 on Monday. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The company has a market cap of $187.77 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.91 and a beta of 0.63. The company has a 50 day moving average of $35.52 and a two-hundred day moving average of $36.60.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Saturday. Finally, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, HDFC Bank has an average 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.