Cable Hill Partners LLC Has $388,000 Stock Position in HDFC Bank Limited (NYSE:HDB)

Cable Hill Partners LLC lessened its stake in shares of HDFC Bank Limited (NYSE:HDB) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,207 shares of the bank’s stock after selling 2,025 shares during the quarter. Cable Hill Partners LLC’s holdings in HDFC Bank were worth $388,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in HDFC Bank by 2.3% in the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock worth $741,932,000 after acquiring an additional 263,690 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of HDFC Bank by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock worth $308,214,000 after purchasing an additional 486,653 shares during the period. PineStone Asset Management Inc. lifted its holdings in shares of HDFC Bank by 115.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after purchasing an additional 2,391,343 shares in the last quarter. Capital World Investors grew its position in HDFC Bank by 208.6% in the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after purchasing an additional 2,788,197 shares during the period. Finally, Millennium Management LLC increased its stake in HDFC Bank by 18.1% during the 2nd quarter. Millennium Management LLC now owns 2,864,145 shares of the bank’s stock valued at $184,250,000 after purchasing an additional 438,750 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Down 1.2 %

HDB stock opened at $61.38 on Thursday. The firm has a market capitalization of $155.43 billion, a PE ratio of 18.66, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The stock’s 50 day moving average is $62.82 and its 200-day moving average is $60.93.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Sell-side analysts expect that HDFC Bank Limited will post 3.2 EPS for the current fiscal year.

Analysts Set New Price Targets

HDB has been the topic of a number of recent research reports. 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 shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

About HDFC Bank

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.