TT International Asset Management LTD Lowers Stake in HDFC Bank Limited (NYSE:HDB)

TT International Asset Management LTD lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 97.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,304 shares of the bank’s stock after selling 1,564,788 shares during the quarter. TT International Asset Management LTD’s holdings in HDFC Bank were worth $2,646,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. purchased a new position in HDFC Bank during the third quarter valued at approximately $270,000. M&T Bank Corp lifted its holdings in HDFC Bank by 15.0% during the third quarter. M&T Bank Corp now owns 63,479 shares of the bank’s stock valued at $3,971,000 after purchasing an additional 8,287 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in HDFC Bank during the third quarter valued at approximately $21,026,000. Nomura Asset Management Co. Ltd. lifted its holdings in HDFC Bank by 60.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock valued at $19,830,000 after purchasing an additional 119,050 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in HDFC Bank by 37.9% during the third quarter. MML Investors Services LLC now owns 46,266 shares of the bank’s stock valued at $2,894,000 after purchasing an additional 12,723 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

HDFC Bank Trading Down 0.5 %

HDFC Bank stock opened at $67.66 on Wednesday. The stock has a market cap of $171.32 billion, a P/E ratio of 20.56, a PEG ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $68.50. The firm’s 50 day moving average price is $63.59 and its 200-day moving average price is $62.07.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. On average, equities analysts predict that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

HDFC Bank 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.