HDFC Bank Limited (NYSE:HDB) Shares Sold by Foresight Global Investors Inc.

Foresight Global Investors Inc. trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,735 shares of the bank’s stock after selling 24,576 shares during the period. HDFC Bank comprises approximately 10.8% of Foresight Global Investors Inc.’s holdings, making the stock its 5th largest holding. Foresight Global Investors Inc.’s holdings in HDFC Bank were worth $14,799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HDB. Evoke Wealth LLC raised its holdings in HDFC Bank by 4.4% in the fourth quarter. Evoke Wealth LLC now owns 10,272 shares of the bank’s stock valued at $656,000 after acquiring an additional 434 shares in the last quarter. PDS Planning Inc increased its position in shares of HDFC Bank by 37.3% in the 4th quarter. PDS Planning Inc now owns 12,487 shares of the bank’s stock worth $797,000 after purchasing an additional 3,390 shares during the last quarter. Signaturefd LLC raised its stake in shares of HDFC Bank by 4.3% in the 4th quarter. Signaturefd LLC now owns 31,362 shares of the bank’s stock valued at $2,003,000 after purchasing an additional 1,283 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of HDFC Bank by 24.2% during the fourth quarter. Parallel Advisors LLC now owns 11,579 shares of the bank’s stock worth $739,000 after purchasing an additional 2,258 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in HDFC Bank by 15.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,144 shares of the bank’s stock worth $1,414,000 after purchasing an additional 2,996 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $62.36 on Wednesday. The company has a market cap of $157.91 billion, a PE ratio of 18.95, a P/E/G ratio of 2.12 and a beta of 0.92. HDFC Bank Limited has a fifty-two week low of $54.07 and a fifty-two week high of $68.50. The firm has a 50-day simple moving average of $60.01 and a 200 day simple moving average of $62.44. 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 posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

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