Mawer Investment Management Ltd. Lowers Stock Position in HDFC Bank Limited (NYSE:HDB)

Mawer Investment Management Ltd. cut its position in shares of HDFC Bank Limited (NYSE:HDB) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,559,320 shares of the bank’s stock after selling 23,169 shares during the period. Mawer Investment Management Ltd. owned 0.08% of HDFC Bank worth $100,311,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in HDB. Choreo LLC purchased a new position in HDFC Bank during the second quarter valued at $1,175,000. Hudson Edge Investment Partners Inc. purchased a new position in HDFC Bank during the second quarter valued at $51,001,000. Caprock Group LLC lifted its holdings in HDFC Bank by 40.0% during the second quarter. Caprock Group LLC now owns 19,692 shares of the bank’s stock valued at $1,267,000 after purchasing an additional 5,629 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in HDFC Bank by 19.9% during the second quarter. Letko Brosseau & Associates Inc. now owns 25,200 shares of the bank’s stock valued at $1,621,000 after purchasing an additional 4,175 shares in the last quarter. Finally, Candriam S.C.A. lifted its holdings in HDFC Bank by 57.9% during the second quarter. Candriam S.C.A. now owns 60,000 shares of the bank’s stock valued at $3,860,000 after purchasing an additional 21,999 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HDB shares. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Performance

NYSE:HDB opened at $61.51 on Tuesday. The company’s 50-day moving average price is $60.78 and its 200-day moving average price is $58.79. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The company has a market cap of $155.75 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.61 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. On average, sell-side analysts forecast that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal 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.