HDFC Bank Limited $HDB Shares Sold by Cooper Investors PTY Ltd.

Cooper Investors PTY Ltd. reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 70.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,762 shares of the bank’s stock after selling 85,941 shares during the quarter. Cooper Investors PTY Ltd.’s holdings in HDFC Bank were worth $1,222,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HDB. Central Pacific Bank Trust Division purchased a new stake in HDFC Bank during the 2nd quarter worth $29,000. Roxbury Financial LLC acquired a new position in shares of HDFC Bank during the second quarter worth about $30,000. Whipplewood Advisors LLC lifted its stake in shares of HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of HDFC Bank by 136.4% in the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares during the period. Finally, Assetmark Inc. grew its stake in shares of HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after buying an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

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

HDFC Bank Stock Up 0.3%

HDB stock opened at $36.40 on Friday. The stock’s 50 day moving average is $36.24 and its two-hundred day moving average is $36.57. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The company has a market capitalization of $185.69 billion, a PE ratio of 22.13, a P/E/G ratio of 1.64 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).