HDFC Bank Limited (NYSE:HDB) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 1.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,607,949 shares of the bank’s stock after selling 27,382 shares during the period. Bank of New York Mellon Corp’s holdings in HDFC Bank were worth $167,769,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HDB. Breakout Capital Partners LP acquired a new position in shares of HDFC Bank in the 4th quarter worth $18,894,000. CIBC Private Wealth Group LLC boosted its position in shares of HDFC Bank by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock valued at $62,407,000 after purchasing an additional 21,265 shares during the period. Truist Financial Corp increased its stake in HDFC Bank by 17.7% in the 4th quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock worth $2,658,000 after purchasing an additional 5,953 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in HDFC Bank during the 2nd quarter worth about $166,709,000. Finally, Sei Investments Co. lifted its stake in HDFC Bank by 0.8% during the fourth quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock valued at $111,481,000 after buying an additional 13,610 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Stock Up 0.5 %

HDB traded up $0.29 on Monday, reaching $61.22. 1,178,663 shares of the company traded hands, compared to its average volume of 3,154,113. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $113.86 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.66 and a beta of 0.92. The stock’s 50 day moving average price is $61.31 and its 200-day moving average price is $58.21.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, sell-side analysts expect that HDFC Bank Limited will post 2.88 EPS for the current fiscal 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.