Lazard Asset Management LLC Sells 1,541,252 Shares of HDFC Bank Limited $HDB

Lazard Asset Management LLC decreased its position in HDFC Bank Limited (NYSE:HDB) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,937,089 shares of the bank’s stock after selling 1,541,252 shares during the quarter. Lazard Asset Management LLC owned 0.21% of HDFC Bank worth $272,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of HDB. Snowden Capital Advisors LLC lifted its holdings in shares of HDFC Bank by 5.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after acquiring an additional 311 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in HDFC Bank by 0.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after purchasing an additional 345 shares during the last quarter. Flputnam Investment Management Co. boosted its position in HDFC Bank by 2.6% during the fourth quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock valued at $525,000 after buying an additional 361 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of HDFC Bank by 19.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock valued at $85,000 after buying an additional 384 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its holdings in shares of HDFC Bank by 3.0% in the fourth quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock worth $493,000 after buying an additional 397 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HDB shares. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $23.26 on Monday. The company’s 50-day moving average is $24.83 and its 200 day moving average is $27.66. The stock has a market capitalization of $118.67 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.10 and a beta of 0.64. HDFC Bank Limited has a 1 year low of $22.66 and a 1 year high of $39.07.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 13.14%. The business had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $5 billion. Research analysts anticipate that HDFC Bank Limited will post 1.67 earnings per share for the current year.

Insider Buying and Selling

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the transaction, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

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).