HDFC Bank Limited (NYSE:HDB) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in HDFC Bank Limited (NYSE:HDB) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,884 shares of the bank’s stock after selling 19,956 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in HDFC Bank were worth $5,675,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Glenmede Trust Co. NA increased its stake in HDFC Bank by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock valued at $301,000 after purchasing an additional 167 shares during the period. Waverton Investment Management Ltd boosted its holdings in shares of HDFC Bank by 1.0% in the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock valued at $1,275,000 after acquiring an additional 203 shares in the last quarter. Commerce Bank boosted its holdings in shares of HDFC Bank by 7.0% in the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock valued at $214,000 after acquiring an additional 225 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in shares of HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after acquiring an additional 254 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its holdings in shares of HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock valued at $470,000 after acquiring an additional 263 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Nomura raised shares of HDFC Bank from a “neutral” rating to a “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 Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Stock Up 1.2 %

Shares of NYSE HDB opened at $62.36 on Wednesday. HDFC Bank Limited has a 12-month low of $54.07 and a 12-month high of $68.50. The company has a market capitalization of $157.91 billion, a PE ratio of 18.95, 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 current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50-day moving average is $60.01 and its two-hundred day moving average is $62.44.

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%. Equities analysts anticipate that HDFC Bank Limited will post 3.03 EPS 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.