Loomis Sayles & Co. L P Cuts Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Loomis Sayles & Co. L P lowered its stake in shares of HDFC Bank Limited (NYSE:HDB) by 89.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,097 shares of the bank’s stock after selling 42,491 shares during the quarter. Loomis Sayles & Co. L P’s holdings in HDFC Bank were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HDB. Manning & Napier Advisors LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $166,709,000. PineStone Asset Management Inc. lifted its holdings in HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after acquiring an additional 2,391,343 shares during the period. TPG GP A LLC purchased a new position in HDFC Bank in the second quarter worth $95,637,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in HDFC Bank by 130.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock valued at $140,593,000 after purchasing an additional 1,236,100 shares during the period. Finally, Eminence Capital LP purchased a new stake in shares of HDFC Bank during the 2nd quarter valued at $68,340,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday.

HDFC Bank Stock Up 1.3 %

HDB opened at $67.50 on Friday. The company’s 50-day moving average price is $63.32 and its two-hundred day moving average price is $61.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.76. The stock has a market cap of $170.93 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. As a group, equities analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

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.