HDFC Bank Limited $HDB Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in HDFC Bank Limited (NYSE:HDB) by 28.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 830,552 shares of the bank’s stock after selling 326,753 shares during the quarter. Hsbc Holdings PLC’s holdings in HDFC Bank were worth $54,688,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of HDB. Larson Financial Group LLC raised its position in HDFC Bank by 1,217.1% in the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in HDFC Bank by 448.7% in the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after acquiring an additional 507 shares in the last quarter. NBC Securities Inc. purchased a new position in HDFC Bank in the first quarter worth $55,000. Pinnacle Bancorp Inc. raised its position in HDFC Bank by 109.7% in the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank’s stock worth $56,000 after acquiring an additional 443 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in HDFC Bank by 233.0% in the first quarter. Rakuten Securities Inc. now owns 899 shares of the bank’s stock worth $60,000 after acquiring an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy”.

HDFC Bank Stock Up 0.5%

Shares of HDB stock opened at $75.38 on Friday. HDFC Bank Limited has a fifty-two week low of $57.78 and a fifty-two week high of $79.61. The stock has a market cap of $192.27 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.92 and a beta of 0.64. The business has a fifty day simple moving average of $75.86 and a 200-day simple moving average of $70.32.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. On average, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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.