Quantinno Capital Management LP Sells 63,860 Shares of HDFC Bank Limited $HDB

Quantinno Capital Management LP lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 20.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 250,416 shares of the bank’s stock after selling 63,860 shares during the period. Quantinno Capital Management LP’s holdings in HDFC Bank were worth $6,230,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC increased its holdings in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in HDFC Bank by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after buying an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in HDFC Bank by 24.5% during the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of HDFC Bank by 464.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after buying an additional 1,221 shares during the period. Finally, First Trust Advisors LP grew its position in shares of HDFC Bank by 29.3% during the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after buying an additional 11,689 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.0%

Shares of HDB stock opened at $23.88 on Thursday. The firm has a fifty day moving average of $24.73 and a 200-day moving average of $27.13. HDFC Bank Limited has a 12-month low of $22.66 and a 12-month high of $38.29. The company has a market capitalization of $121.82 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.13 and a beta of 0.65.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $5 billion. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%. On average, equities analysts expect that HDFC Bank Limited will post 1.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HDB. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Finally, Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, HDFC Bank has a consensus rating of “Hold”.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).