HDFC Bank Limited (NYSE:HDB) Position Lessened by National Bank of Canada FI

National Bank of Canada FI lowered its position in HDFC Bank Limited (NYSE:HDB) by 85.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,864 shares of the bank’s stock after selling 316,310 shares during the quarter. National Bank of Canada FI’s holdings in HDFC Bank were worth $3,302,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Castleark Management LLC increased its stake in shares of HDFC Bank by 110.0% during the 3rd quarter. Castleark Management LLC now owns 23,390 shares of the bank’s stock worth $1,463,000 after purchasing an additional 12,250 shares during the last quarter. Insigneo Advisory Services LLC bought a new stake in HDFC Bank in the third quarter worth $246,000. Wellington Management Group LLP increased its position in HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after buying an additional 108,312 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in HDFC Bank by 1.6% during the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after buying an additional 132,445 shares in the last quarter. Finally, State Street Corp lifted its position in shares of HDFC Bank by 15.8% in the third quarter. State Street Corp now owns 513,684 shares of the bank’s stock worth $32,136,000 after buying an additional 70,071 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Up 0.6 %

NYSE:HDB opened at $66.99 on Friday. The company’s 50 day moving average is $64.05 and its 200-day moving average is $62.27. 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 12 month low of $52.16 and a 12 month high of $68.50. The firm has a market cap of $169.64 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.79 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. Equities analysts anticipate that HDFC Bank Limited will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank 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.