Logan Capital Management Inc. Decreases Stock Position in HDFC Bank Limited (NYSE:HDB)

Logan Capital Management Inc. trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 65.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,338 shares of the bank’s stock after selling 13,964 shares during the quarter. Logan Capital Management Inc.’s holdings in HDFC Bank were worth $459,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. lifted its stake in HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of HDFC Bank in the 2nd quarter worth $36,000. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank during the 3rd quarter worth $38,000. JFS Wealth Advisors LLC boosted its position in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of HDFC Bank in the third quarter valued at about $65,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Up 0.6 %

HDB stock opened at $66.99 on Friday. The firm has a market cap of $169.64 billion, a PE ratio of 20.36, a PEG ratio of 1.79 and a beta of 0.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $68.50. 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’s 50 day moving average price is $64.05 and its 200-day moving average price is $62.27.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. The business 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, equities research analysts anticipate that HDFC Bank Limited will post 3.15 EPS 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.