Trillium Asset Management LLC Reduces Holdings in HDFC Bank Limited $HDB

Trillium Asset Management LLC decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 7.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 109,816 shares of the bank’s stock after selling 8,943 shares during the period. Trillium Asset Management LLC’s holdings in HDFC Bank were worth $8,420,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in HDFC Bank by 18.0% during the 1st quarter. Principal Financial Group Inc. now owns 57,425 shares of the bank’s stock worth $3,815,000 after acquiring an additional 8,746 shares during the period. OneDigital Investment Advisors LLC boosted its position in HDFC Bank by 10.9% in the first quarter. OneDigital Investment Advisors LLC now owns 17,012 shares of the bank’s stock valued at $1,130,000 after buying an additional 1,666 shares during the last quarter. ARGA Investment Management LP boosted its position in HDFC Bank by 7.2% in the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank’s stock valued at $103,246,000 after buying an additional 104,162 shares during the last quarter. May Hill Capital LLC purchased a new stake in HDFC Bank in the first quarter valued at approximately $402,000. Finally, DekaBank Deutsche Girozentrale boosted its position in HDFC Bank by 6.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 322,392 shares of the bank’s stock valued at $20,896,000 after buying an additional 20,905 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of recent research reports. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, HDFC Bank currently has a consensus rating of “Moderate Buy”.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $36.26 on Wednesday. The stock has a market capitalization of $184.95 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.92 and a beta of 0.63. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81. The firm’s 50 day simple moving average is $35.45 and its 200-day simple moving average is $36.73.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.98 billion. Analysts anticipate that HDFC Bank Limited will post 3.03 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.