HDFC Bank Limited (NYSE:HDB) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in HDFC Bank Limited (NYSE:HDB) by 6.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,191,982 shares of the bank’s stock after selling 80,950 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in HDFC Bank were worth $74,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in shares of HDFC Bank during the 2nd quarter valued at approximately $166,709,000. US Bancorp DE increased its stake in HDFC Bank by 38.1% during the third quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock valued at $8,750,000 after purchasing an additional 38,571 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of HDFC Bank by 580.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock worth $45,079,000 after purchasing an additional 686,789 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of HDFC Bank by 56.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after buying an additional 50,301 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of HDFC Bank in the 1st quarter valued at about $125,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.9 %

HDFC Bank stock opened at $61.94 on Friday. The firm has a market capitalization of $156.84 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a 50-day simple moving average of $62.81 and a 200-day simple moving average of $60.93. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, equities analysts expect that HDFC Bank Limited will post 3.2 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

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.