Titan Global Capital Management USA LLC Cuts Stake in HDFC Bank Limited (NYSE:HDB)

Titan Global Capital Management USA LLC reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 5.5% in the 4th quarter, HoldingsChannel reports. The firm owned 21,035 shares of the bank’s stock after selling 1,227 shares during the period. Titan Global Capital Management USA LLC’s holdings in HDFC Bank were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its holdings in HDFC Bank by 1.0% during the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock worth $1,275,000 after acquiring an additional 203 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock worth $39,000 after purchasing an additional 240 shares during the period. Level Four Advisory Services LLC increased its holdings in shares of HDFC Bank by 3.6% in the 4th quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank’s stock valued at $438,000 after purchasing an additional 241 shares in the last quarter. Baron Wealth Management LLC lifted its stake in shares of HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock valued at $470,000 after purchasing an additional 263 shares during the period. Finally, Principal Securities Inc. boosted its holdings in HDFC Bank by 13.0% during the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank’s stock worth $147,000 after buying an additional 265 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HDB. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Down 1.3 %

Shares of NYSE:HDB opened at $64.80 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $164.08 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.12 and a beta of 0.68. HDFC Bank Limited has a 52-week low of $54.99 and a 52-week high of $68.50. The stock’s fifty day simple moving average is $62.25 and its 200-day simple moving average is $62.77.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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.