Oppenheimer Asset Management Inc. Sells 26,093 Shares of HDFC Bank Limited (NYSE:HDB)

Oppenheimer Asset Management Inc. trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 10.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 224,155 shares of the bank’s stock after selling 26,093 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in HDFC Bank were worth $14,315,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Trinity Street Asset Management LLP lifted its stake in HDFC Bank by 7.4% in the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock worth $234,641,000 after purchasing an additional 252,600 shares during the last quarter. Citigroup Inc. lifted its stake in shares of HDFC Bank by 21.1% in the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after acquiring an additional 199,582 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of HDFC Bank by 60.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock valued at $19,830,000 after acquiring an additional 119,050 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in HDFC Bank by 34.7% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock valued at $8,572,000 after acquiring an additional 35,291 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock worth $15,114,000 after acquiring an additional 28,500 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB opened at $60.42 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $152.99 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The stock’s 50 day moving average price is $60.94 and its 200-day moving average price is $62.41. HDFC Bank Limited has a 52-week low of $53.00 and a 52-week high of $68.50.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

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.