William Blair Investment Management LLC Sells 572,155 Shares of HDFC Bank Limited $HDB

William Blair Investment Management LLC cut its holdings in HDFC Bank Limited (NYSE:HDB) by 56.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 439,553 shares of the bank’s stock after selling 572,155 shares during the quarter. William Blair Investment Management LLC’s holdings in HDFC Bank were worth $15,015,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Central Pacific Bank Trust Division boosted its holdings in shares of HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after buying an additional 379 shares during the period. Parkside Financial Bank & Trust lifted its position in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after acquiring an additional 322 shares in the last quarter. Clearstead Advisors LLC boosted its stake in HDFC Bank by 476.8% in the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after purchasing an additional 739 shares during the period. J.Safra Asset Management Corp boosted its stake in HDFC Bank by 100.0% in the 3rd quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock worth $35,000 after purchasing an additional 510 shares during the period. Finally, Roxbury Financial LLC increased its holdings in HDFC Bank by 194.9% during the 3rd quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after purchasing an additional 768 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $31.57 on Tuesday. The stock has a 50 day moving average price of $33.52 and a 200 day moving average price of $35.01. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81. The stock has a market capitalization of $161.04 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.33 and a beta of 0.56.

Analysts Set New Price Targets

HDB has been the topic of a number of research reports. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

HDFC Bank Company 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).