HDFC Bank Limited $HDB Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. decreased its holdings in HDFC Bank Limited (NYSE:HDB) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 292,280 shares of the bank’s stock after selling 586 shares during the quarter. HDFC Bank accounts for about 2.7% of Cabot Wealth Management Inc.’s holdings, making the stock its 7th largest holding. Cabot Wealth Management Inc.’s holdings in HDFC Bank were worth $22,409,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in HDFC Bank by 81.0% in the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock worth $37,765,000 after purchasing an additional 254,395 shares during the period. Acadian Asset Management LLC acquired a new position in shares of HDFC Bank during the first quarter valued at approximately $19,366,000. Immersion Capital LLP acquired a new position in shares of HDFC Bank during the first quarter valued at approximately $19,753,000. Raiffeisen Bank International AG raised its holdings in shares of HDFC Bank by 21.3% during the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock valued at $12,778,000 after acquiring an additional 33,983 shares during the last quarter. Finally, Eminence Capital LP raised its holdings in shares of HDFC Bank by 18.9% during the first quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock valued at $78,834,000 after acquiring an additional 189,015 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB stock opened at $36.81 on Friday. The business has a 50 day simple moving average of $35.52 and a 200-day simple moving average of $36.57. The firm has a market capitalization of $187.77 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.63. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a return on equity of 11.07% and a net margin of 14.94%. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of HDFC Bank in a report on Saturday. One investment 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 stock. According to MarketBeat, HDFC Bank presently has an average rating of “Moderate Buy”.

HDFC Bank 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.