Nomura Holdings Inc. trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 25.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,196 shares of the bank’s stock after selling 78,204 shares during the period. Nomura Holdings Inc.’s holdings in HDFC Bank were worth $29,723,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of HDB. Raymond James Financial Services Advisors Inc. grew its position in HDFC Bank by 3.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,927 shares of the bank’s stock valued at $1,846,000 after acquiring an additional 601 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in HDFC Bank by 33.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 529,410 shares of the bank’s stock valued at $61,364,000 after acquiring an additional 133,242 shares during the last quarter. TD Asset Management Inc. grew its position in HDFC Bank by 10.1% during the first quarter. TD Asset Management Inc. now owns 26,354 shares of the bank’s stock valued at $3,055,000 after acquiring an additional 2,410 shares during the last quarter. US Bancorp DE grew its position in HDFC Bank by 0.7% during the first quarter. US Bancorp DE now owns 59,051 shares of the bank’s stock valued at $6,845,000 after acquiring an additional 427 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in HDFC Bank during the first quarter valued at approximately $656,000. Institutional investors and hedge funds own 19.35% of the company’s stock.
Shares of HDFC Bank stock traded up $9.75 on Friday, hitting $112.30. The stock had a trading volume of 2,155,979 shares, compared to its average volume of 1,146,573. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.64. HDFC Bank Limited has a one year low of $85.43 and a one year high of $131.78. The stock has a market cap of $102.45 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 1.17 and a beta of 0.45. The stock’s 50-day simple moving average is $108.29 and its two-hundred day simple moving average is $116.34.
HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, July 20th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). HDFC Bank had a return on equity of 13.23% and a net margin of 17.98%. The firm had revenue of $4.65 billion during the quarter. As a group, equities analysts predict that HDFC Bank Limited will post 3.97 EPS for the current fiscal year.
A number of brokerages have commented on HDB. Sanford C. Bernstein cut shares of HDFC Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, September 9th. Nomura cut shares of HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 target price on the stock. in a report on Tuesday, June 11th. Finally, Zacks Investment Research cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $136.82.
HDFC Bank Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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