Nordea Investment Management AB Has $22.37 Million Stock Position in HDFC Bank Limited $HDB

Nordea Investment Management AB trimmed its position in HDFC Bank Limited (NYSE:HDB) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,004 shares of the bank’s stock after selling 54,054 shares during the quarter. Nordea Investment Management AB’s holdings in HDFC Bank were worth $22,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HDB. GAMMA Investing LLC increased its position in HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank’s stock worth $159,000 after purchasing an additional 153 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in HDFC Bank by 38.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,570 shares of the bank’s stock worth $569,000 after purchasing an additional 2,365 shares during the period. Avior Wealth Management LLC increased its position in HDFC Bank by 9.2% in the first quarter. Avior Wealth Management LLC now owns 4,405 shares of the bank’s stock worth $293,000 after purchasing an additional 370 shares during the period. Channing Global Advisors LLC boosted its holdings in HDFC Bank by 101.8% during the first quarter. Channing Global Advisors LLC now owns 83,886 shares of the bank’s stock worth $5,573,000 after buying an additional 42,326 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in HDFC Bank by 4.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 233,224 shares of the bank’s stock worth $15,495,000 after buying an additional 9,069 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Price Performance

NYSE:HDB opened at $36.72 on Monday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The stock has a market capitalization of $187.33 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.95 and a beta of 0.63. The business’s 50-day simple moving average is $35.56 and its 200-day simple moving average is $36.44.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion. On average, research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

HDB has been the topic of a number of recent analyst reports. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, HDFC Bank currently has a consensus rating of “Moderate Buy”.

HDFC Bank 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.