Candriam S.C.A. Sells 18,620 Shares of HDFC Bank Limited (NYSE:HDB)

Candriam S.C.A. decreased its position in HDFC Bank Limited (NYSE:HDB) by 32.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,380 shares of the bank’s stock after selling 18,620 shares during the quarter. Candriam S.C.A.’s holdings in HDFC Bank were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HDB. Whipplewood Advisors LLC purchased a new position in HDFC Bank in the 4th quarter worth approximately $29,000. Pin Oak Investment Advisors Inc. increased 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 during the period. Sierra Ocean LLC purchased a new position in HDFC Bank in the 4th quarter worth approximately $42,000. Kestra Investment Management LLC purchased a new position in HDFC Bank in the 4th quarter worth approximately $60,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in HDFC Bank in the 3rd quarter worth approximately $65,000. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Price Performance

HDB opened at $59.08 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a 52-week low of $54.07 and a 52-week high of $68.50. The stock has a market capitalization of $149.60 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The stock’s 50 day moving average price is $60.37 and its 200-day moving average price is $62.45.

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