GCM Grosvenor Holdings LLC Lowers Holdings in HDFC Bank Limited $HDB

GCM Grosvenor Holdings LLC cut its holdings in HDFC Bank Limited (NYSE:HDB) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,799 shares of the bank’s stock after selling 17,787 shares during the period. HDFC Bank accounts for 2.1% of GCM Grosvenor Holdings LLC’s investment portfolio, making the stock its 7th biggest position. GCM Grosvenor Holdings LLC’s holdings in HDFC Bank were worth $14,475,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HDB. New Vernon Capital Holdings II LLC purchased a new stake in shares of HDFC Bank during the first quarter worth $1,546,956,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of HDFC Bank by 3,715.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock valued at $279,029,000 after purchasing an additional 4,089,647 shares during the period. Royal Bank of Canada lifted its holdings in HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after purchasing an additional 3,907,637 shares in the last quarter. M&G PLC lifted its holdings in HDFC Bank by 184.2% during the 2nd quarter. M&G PLC now owns 3,407,929 shares of the bank’s stock worth $262,411,000 after purchasing an additional 2,208,824 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in HDFC Bank by 19.0% in the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock worth $813,830,000 after purchasing an additional 1,692,243 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Trading Up 0.2%

Shares of NYSE HDB opened at $35.89 on Friday. The business has a 50-day moving average of $36.09 and a 200-day moving average of $36.68. The firm has a market capitalization of $183.07 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 1.61 and a beta of 0.58. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating 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 business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $4.98 billion. On average, analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HDB shares. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, 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.