Nomura Asset Management Co. Ltd. Trims Stock Position in HDFC Bank Limited $HDB

Nomura Asset Management Co. Ltd. cut its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 13.0% in the second quarter, HoldingsChannel reports. The firm owned 277,501 shares of the bank’s stock after selling 41,536 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in HDFC Bank were worth $21,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HDB. Central Pacific Bank Trust Division purchased a new position in shares of HDFC Bank during the 2nd quarter valued at about $29,000. Roxbury Financial LLC purchased a new stake in shares of HDFC Bank in the second quarter worth about $30,000. Larson Financial Group LLC grew its holdings in HDFC Bank by 1,217.1% during 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 during the period. Whipplewood Advisors LLC raised its position in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after acquiring an additional 290 shares in the last quarter. Finally, NewSquare Capital LLC raised its position in HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after acquiring an additional 390 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on HDB. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, HDFC Bank presently has a consensus rating of “Moderate Buy”.

HDFC Bank Price Performance

HDFC Bank stock opened at $37.15 on Wednesday. The stock has a market capitalization of $189.49 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. The business has a 50 day simple moving average of $35.63 and a 200-day simple moving average of $36.72. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.98 billion. On average, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.