Sei Investments Co. Trims Stock Holdings in HDFC Bank Limited $HDB

Sei Investments Co. lowered its stake in shares of HDFC Bank Limited (NYSE:HDB) by 6.1% during the first quarter, Holdings Channel reports. The fund owned 6,078,639 shares of the bank’s stock after selling 393,515 shares during the quarter. Sei Investments Co.’s holdings in HDFC Bank were worth $151,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake 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 boosted its stake in shares of HDFC Bank by 31.0% during the 4th 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 buying an additional 7,864,692 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after buying an additional 6,386,002 shares in the last quarter. Finally, Invesco Ltd. raised its position 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 during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.1%

Shares of NYSE:HDB opened at $23.17 on Friday. The stock’s 50-day moving average price is $24.86 and its two-hundred day moving average price is $27.73. HDFC Bank Limited has a 12-month low of $22.66 and a 12-month high of $39.47. The firm has a market cap of $118.19 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.09 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. As a group, research analysts forecast that HDFC Bank Limited will post 1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider owned 842,958 shares in the company, valued at $7,333,734.60. This trade represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the sale, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

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).