Okabena Investment Services Inc. Cuts Stake in HDFC Bank Limited (NYSE:HDB)

Okabena Investment Services Inc. lessened its stake in HDFC Bank Limited (NYSE:HDB) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,437 shares of the bank’s stock after selling 497 shares during the quarter. Okabena Investment Services Inc.’s holdings in HDFC Bank were worth $590,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in HDFC Bank by 10.9% in the first quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock worth $6,830,000 after buying an additional 12,037 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of HDFC Bank by 34.5% during the first quarter. Advisors Asset Management Inc. now owns 24,400 shares of the bank’s stock valued at $1,366,000 after buying an additional 6,261 shares during the last quarter. Toronto Dominion Bank increased its position in shares of HDFC Bank by 10.8% during the first quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock valued at $186,000 after acquiring an additional 325 shares in the last quarter. LRI Investments LLC purchased a new position in HDFC Bank in the 1st quarter worth approximately $125,000. Finally, Earnest Partners LLC lifted its position in HDFC Bank by 9.1% in the 1st quarter. Earnest Partners LLC now owns 1,249,070 shares of the bank’s stock valued at $69,910,000 after acquiring an additional 103,917 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $64.50 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $163.33 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The business has a 50-day simple moving average of $63.03 and a two-hundred day simple moving average of $61.17. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. On average, analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current year.

About HDFC Bank

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.