HDFC Bank Limited $HDB Stock Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,431,044 shares of the bank’s stock after selling 86,092 shares during the period. Russell Investments Group Ltd.’s holdings in HDFC Bank were worth $76,650,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HDB. May Hill Capital LLC increased its position in HDFC Bank by 6.4% in the 3rd quarter. May Hill Capital LLC now owns 9,911 shares of the bank’s stock valued at $221,000 after acquiring an additional 598 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of HDFC Bank by 1.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 38,747 shares of the bank’s stock worth $866,000 after purchasing an additional 630 shares in the last quarter. Summitry LLC grew its stake in shares of HDFC Bank by 4.1% during the first quarter. Summitry LLC now owns 21,195 shares of the bank’s stock valued at $527,000 after purchasing an additional 842 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in shares of HDFC Bank by 33.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,807 shares of the bank’s stock valued at $85,000 after purchasing an additional 952 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of HDFC Bank by 0.5% in the third quarter. Vontobel Holding Ltd. now owns 232,512 shares of the bank’s stock valued at $5,194,000 after purchasing an additional 1,088 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.6%

NYSE HDB traded up $0.15 during trading hours on Friday, hitting $25.86. The company’s stock had a trading volume of 4,969,231 shares, compared to its average volume of 8,990,541. HDFC Bank Limited has a twelve month low of $21.36 and a twelve month high of $37.35. The firm has a market capitalization of $132.72 billion, a P/E ratio of 14.78, a PEG ratio of 1.42 and a beta of 0.64. The stock has a fifty day moving average of $23.05 and a 200 day moving average of $25.51.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $4.95 billion. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. On average, analysts predict that HDFC Bank Limited will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HDB shares. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. HSBC downgraded HDFC Bank from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.80 to $26.10 in a research report on Monday, August 31st. Finally, The Goldman Sachs Group initiated coverage on HDFC Bank in a research note on Friday, August 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, HDFC Bank currently has a consensus rating of “Hold” and a consensus price target of $26.10.

About HDFC Bank

HDFC Bank Limited is an India-based banking and financial services company headquartered in Mumbai. Incorporated in 1994, it began banking operations in 1995 and serves individuals, businesses and institutions across India. The bank offers savings and current accounts, deposits, loans, credit and debit cards, payment services, and digital banking. Its business also includes wholesale banking, treasury services and wealth management. In 2023, HDFC Limited, a housing finance company, merged with HDFC Bank, bringing its housing finance activities into the bank.