HDFC Bank Limited $HDB Position Lowered by Dnca Finance

Dnca Finance decreased its position in HDFC Bank Limited (NYSE:HDB) by 75.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,600 shares of the bank’s stock after selling 30,200 shares during the quarter. Dnca Finance’s holdings in HDFC Bank were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of HDFC Bank by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after purchasing an additional 13,435 shares during the period. Sivia Capital Partners LLC lifted its position in shares of HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares during the last quarter. Savant Capital LLC acquired a new position in shares of HDFC Bank in the 2nd quarter valued at about $377,000. Finally, Penserra Capital Management LLC bought a new stake in shares of HDFC Bank during the 2nd quarter valued at about $203,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $28.25 on Friday. The firm has a fifty day moving average of $32.28 and a 200-day moving average of $34.56. The company has a market cap of $144.11 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.56. HDFC Bank Limited has a 1 year low of $28.05 and a 1 year high of $39.81.

Analyst Ratings Changes

A number of brokerages have issued reports on HDB. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, HDFC Bank has a consensus rating of “Reduce”.

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).