HDFC Bank Limited (NYSE:HDB) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 11.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 385,235 shares of the bank’s stock after selling 48,280 shares during the quarter. Van ECK Associates Corp’s holdings in HDFC Bank were worth $25,853,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in HDB. Baillie Gifford & Co. boosted its stake in shares of HDFC Bank by 183.8% during the third quarter. Baillie Gifford & Co. now owns 9,560,478 shares of the bank’s stock worth $564,164,000 after buying an additional 6,191,548 shares during the period. Hardman Johnston Global Advisors LLC boosted its stake in shares of HDFC Bank by 832.6% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 2,032,170 shares of the bank’s stock worth $136,379,000 after buying an additional 1,814,263 shares during the period. Aikya Investment Management Ltd acquired a new stake in shares of HDFC Bank during the fourth quarter worth about $77,036,000. Wellington Management Group LLP boosted its stake in shares of HDFC Bank by 51.6% during the third quarter. Wellington Management Group LLP now owns 2,457,211 shares of the bank’s stock worth $145,000,000 after buying an additional 836,449 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in shares of HDFC Bank by 57.8% during the third quarter. Royal London Asset Management Ltd. now owns 2,002,576 shares of the bank’s stock worth $118,192,000 after buying an additional 733,492 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Monday, April 22nd.

HDFC Bank Trading Down 1.3 %

NYSE HDB opened at $57.60 on Wednesday. The stock has a market capitalization of $107.12 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.09 and a beta of 0.87. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39. The firm has a 50-day moving average price of $56.34 and a 200 day moving average price of $58.55. The company has a quick ratio of 0.52, a current ratio of 0.40 and a debt-to-equity ratio of 1.78.

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.