Kornitzer Capital Management Inc. KS Sells 15,000 Shares of HDFC Bank Limited $HDB

Kornitzer Capital Management Inc. KS reduced its stake in shares of HDFC Bank Limited (NYSE:HDB) by 17.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,000 shares of the bank’s stock after selling 15,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in HDFC Bank were worth $5,367,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Financial Perspectives Inc raised its position in HDFC Bank by 1.3% during the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock worth $826,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC raised its position in HDFC Bank by 6.8% during the 1st 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 last quarter. DMC Group LLC raised its position in HDFC Bank by 2.5% during the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank’s stock worth $493,000 after purchasing an additional 181 shares during the last quarter. Platform Technology Partners raised its position in HDFC Bank by 2.7% during the 1st quarter. Platform Technology Partners now owns 7,644 shares of the bank’s stock worth $508,000 after purchasing an additional 201 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in HDFC Bank by 1.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after purchasing an additional 215 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

Shares of HDB opened at $36.81 on Friday. The stock has a 50-day moving average of $35.52 and a 200-day moving average of $36.57. The company has a market cap of $187.77 billion, a PE ratio of 22.38, a P/E/G ratio of 1.95 and a beta of 0.63. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.98 billion. HDFC Bank had a return on equity of 11.07% and a net margin of 14.94%. Analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

HDB has been the subject of several analyst reports. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a report on Saturday. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.