Icon Wealth Advisors LLC Sells 889 Shares of HDFC Bank Limited (NYSE:HDB)

Icon Wealth Advisors LLC cut its position in HDFC Bank Limited (NYSE:HDB) by 28.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,211 shares of the bank’s stock after selling 889 shares during the quarter. Icon Wealth Advisors LLC’s holdings in HDFC Bank were worth $153,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HDB. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of HDFC Bank by 13.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after acquiring an additional 28,500 shares during the last quarter. Citigroup Inc. grew its stake in shares of HDFC Bank by 21.1% during the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock worth $71,559,000 after acquiring an additional 199,582 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of HDFC Bank during the second quarter worth about $166,709,000. US Bancorp DE grew its stake in shares of HDFC Bank by 38.1% during the third quarter. US Bancorp DE now owns 139,865 shares of the bank’s stock worth $8,750,000 after acquiring an additional 38,571 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of HDFC Bank by 56.3% during the second quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after acquiring an additional 50,301 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

HDFC Bank Price Performance

Shares of NYSE HDB opened at $64.50 on Monday. The business’s 50 day moving average price is $63.03 and its 200 day moving average price is $61.21. The firm has a market cap of $163.33 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.69 and a beta of 0.91. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

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

HDFC Bank Company Profile

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.