HDFC Bank Limited (NYSE:HDB) Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP lowered its stake in shares of HDFC Bank Limited (NYSE:HDB) by 4.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,176,487 shares of the bank’s stock after selling 348,807 shares during the quarter. HDFC Bank accounts for approximately 2.6% of Sustainable Growth Advisers LP’s portfolio, making the stock its 19th biggest position. Sustainable Growth Advisers LP’s holdings in HDFC Bank were worth $522,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in HDB. Principal Financial Group Inc. boosted its holdings in HDFC Bank by 31.5% in the third quarter. Principal Financial Group Inc. now owns 47,225 shares of the bank’s stock worth $2,954,000 after purchasing an additional 11,319 shares during the period. Atria Investments Inc boosted its holdings in HDFC Bank by 9.4% in the third quarter. Atria Investments Inc now owns 48,111 shares of the bank’s stock worth $3,010,000 after purchasing an additional 4,119 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in HDFC Bank by 1.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 25,576 shares of the bank’s stock worth $1,600,000 after purchasing an additional 308 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in HDFC Bank by 28.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 250,248 shares of the bank’s stock worth $15,656,000 after purchasing an additional 54,994 shares during the period. Finally, Firetrail Investments PTY Ltd. boosted its holdings in HDFC Bank by 0.7% in the third quarter. Firetrail Investments PTY Ltd. now owns 147,179 shares of the bank’s stock worth $9,198,000 after purchasing an additional 1,003 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $60.44 on Thursday. HDFC Bank Limited has a 1 year low of $54.07 and a 1 year high of $68.50. The company has a market cap of $153.05 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a fifty day moving average of $60.12 and a 200-day moving average of $62.42.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on HDB shares. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

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.