1832 Asset Management L.P. Sells 84,579 Shares of HDFC Bank Limited $HDB

1832 Asset Management L.P. decreased its stake in HDFC Bank Limited (NYSE:HDB) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,113,600 shares of the bank’s stock after selling 84,579 shares during the quarter. 1832 Asset Management L.P.’s holdings in HDFC Bank were worth $85,380,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of HDFC Bank in the 2nd quarter valued at about $29,000. Roxbury Financial LLC bought a new stake in HDFC Bank in the 2nd quarter valued at $30,000. Whipplewood Advisors LLC lifted its holdings in HDFC Bank by 112.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after purchasing an additional 290 shares during the last quarter. NewSquare Capital LLC boosted its position in HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after purchasing an additional 390 shares during the period. Finally, Assetmark Inc. boosted its position in HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after purchasing an additional 552 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HDB shares. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

HDFC Bank Trading Up 0.2%

NYSE HDB opened at $35.90 on Thursday. The firm’s 50 day simple moving average is $35.88 and its 200 day simple moving average is $36.74. The firm has a market capitalization of $183.13 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.60 and a beta of 0.58. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. On average, equities research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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.