Bank of New York Mellon Corp Sells 68,167 Shares of HDFC Bank Limited (NYSE:HDB)

Bank of New York Mellon Corp reduced its stake in shares of HDFC Bank Limited (NYSE:HDB) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,259,177 shares of the bank’s stock after selling 68,167 shares during the period. Bank of New York Mellon Corp’s holdings in HDFC Bank were worth $144,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HDB. Pin Oak Investment Advisors Inc. grew its position in shares of HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. JFS Wealth Advisors LLC grew its position in shares of HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of HDFC Bank in the fourth quarter valued at about $42,000. Kestra Investment Management LLC acquired a new stake in shares of HDFC Bank in the fourth quarter valued at about $60,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of HDFC Bank in the third quarter valued at about $65,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Up 2.1 %

HDB stock opened at $61.63 on Friday. HDFC Bank Limited has a twelve month low of $53.19 and a twelve month high of $68.50. The company has a market cap of $156.07 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The business’s 50-day simple moving average is $60.89 and its 200 day simple moving average is $62.41. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26.

HDFC Bank (NYSE:HDB) last released its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HDB shares. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd.

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.