HDFC Bank Limited $HDB Stock: Sustainable Growth Advisers LP Lowers Stake

Sustainable Growth Advisers LP trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 20.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,014,543 shares of the bank’s stock after selling 784,307 shares during the quarter. HDFC Bank accounts for approximately 0.7% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 28th largest position. Sustainable Growth Advisers LP’s holdings in HDFC Bank were worth $67,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. lifted its stake in shares of HDFC Bank by 267.7% during the 1st quarter. Elliott Investment Management L.P. now owns 797,085 shares of the bank’s stock worth $19,831,000 after acquiring an additional 580,329 shares during the last quarter. KBC Group NV boosted its holdings in HDFC Bank by 26.9% during the 1st quarter. KBC Group NV now owns 404,884 shares of the bank’s stock valued at $10,074,000 after acquiring an additional 85,882 shares during the period. ABN Amro Investment Solutions grew its position in HDFC Bank by 66.0% in the 1st quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank’s stock valued at $37,294,000 after acquiring an additional 595,912 shares during the last quarter. Raiffeisen Bank International AG grew its position in HDFC Bank by 999.2% in the 2nd quarter. Raiffeisen Bank International AG now owns 756,000 shares of the bank’s stock valued at $19,588,000 after acquiring an additional 687,223 shares during the last quarter. Finally, XY Capital Ltd grew its position in HDFC Bank by 143.5% in the 2nd quarter. XY Capital Ltd now owns 517,975 shares of the bank’s stock valued at $13,379,000 after acquiring an additional 305,215 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of HDB opened at $23.54 on Friday. The company has a 50 day moving average price of $22.90 and a 200-day moving average price of $24.27. HDFC Bank Limited has a fifty-two week low of $21.70 and a fifty-two week high of $37.45. The stock has a market capitalization of $120.76 billion, a PE ratio of 13.84, a PEG ratio of 1.11 and a beta of 0.61.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $5 billion. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. Equities research analysts forecast that HDFC Bank Limited will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of recent analyst reports. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. HSBC cut shares of HDFC Bank from a “buy” rating to a “hold” rating and cut their price target for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Finally, The Goldman Sachs Group started coverage on shares of HDFC Bank in a research note on Friday, August 21st. They issued a “buy” rating on the stock. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.10.

HDFC Bank Company Profile

HDFC Bank Limited is a financial services company headquartered in Mumbai, India. Established in 1994, it operates as a private-sector commercial bank serving individuals, businesses, institutions and government-related entities.

The bank offers a broad range of products and services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, investment products and insurance distribution.