SG Americas Securities LLC Cuts Stock Position in HDFC Bank Limited $HDB

SG Americas Securities LLC decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 60.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,121 shares of the bank’s stock after selling 10,817 shares during the period. SG Americas Securities LLC’s holdings in HDFC Bank were worth $546,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of HDFC Bank by 81.0% during the 1st quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock valued at $37,765,000 after buying an additional 254,395 shares during the period. Acadian Asset Management LLC acquired a new stake in HDFC Bank in the first quarter valued at approximately $19,366,000. Immersion Capital LLP purchased a new stake in shares of HDFC Bank during the first quarter valued at approximately $19,753,000. Raiffeisen Bank International AG lifted its position in shares of HDFC Bank by 21.3% during the first quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock worth $12,778,000 after purchasing an additional 33,983 shares in the last quarter. Finally, Eminence Capital LP boosted its stake in shares of HDFC Bank by 18.9% in the first quarter. Eminence Capital LP now owns 1,186,551 shares of the bank’s stock valued at $78,834,000 after purchasing an additional 189,015 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Price Performance

NYSE HDB opened at $36.64 on Thursday. The company has a market capitalization of $186.92 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81. The company’s fifty day moving average price is $35.78 and its two-hundred day moving average price is $36.74.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $4.98 billion. As a group, analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HDB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.