Employees Retirement System of Texas Reduces Holdings in HDFC Bank Limited $HDB

Employees Retirement System of Texas reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,335 shares of the bank’s stock after selling 11,898 shares during the period. Employees Retirement System of Texas’ holdings in HDFC Bank were worth $8,766,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in HDFC Bank by 44.6% in the 1st quarter. Cetera Investment Advisers now owns 23,213 shares of the bank’s stock valued at $1,542,000 after buying an additional 7,161 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of HDFC Bank by 110.5% in the first quarter. HB Wealth Management LLC now owns 7,680 shares of the bank’s stock worth $510,000 after acquiring an additional 4,031 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in HDFC Bank in the first quarter valued at about $361,000. LPL Financial LLC grew its stake in HDFC Bank by 20.9% during the 1st quarter. LPL Financial LLC now owns 139,961 shares of the bank’s stock valued at $9,299,000 after purchasing an additional 24,185 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in HDFC Bank during the 1st quarter worth approximately $2,634,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Up 1.3%

Shares of NYSE HDB opened at $36.64 on Thursday. The company has a market capitalization of $186.92 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The business has a 50 day simple moving average of $35.78 and a 200-day simple moving average of $36.74.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $4.98 billion. As a group, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HDB. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, HDFC Bank has a consensus rating of “Moderate Buy”.

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.