HDFC Bank Limited $HDB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 0.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,230,573 shares of the bank’s stock after selling 15,173 shares during the quarter. Bank of New York Mellon Corp’s holdings in HDFC Bank were worth $171,018,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Perspectives Inc increased its position in HDFC Bank by 1.3% during the second 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. DMC Group LLC increased its position in HDFC Bank by 2.5% during the first 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. Nisa Investment Advisors LLC increased its position in HDFC Bank by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after purchasing an additional 194 shares during the last quarter. Platform Technology Partners increased its position in HDFC Bank by 2.7% during the first 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 increased its position in HDFC Bank by 1.5% during the second 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. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $35.78 on Thursday. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The stock has a market cap of $182.52 billion, a PE ratio of 21.75, a P/E/G ratio of 1.92 and a beta of 0.69. The firm has a 50-day simple moving average of $35.44 and a two-hundred day simple moving average of $36.72.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.