HDFC Bank Limited $HDB Shares Sold by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD lowered its stake in HDFC Bank Limited (NYSE:HDB) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,778,743 shares of the bank’s stock after selling 248,375 shares during the period. HDFC Bank accounts for 1.3% of Mondrian Investment Partners LTD’s portfolio, making the stock its 26th largest position. Mondrian Investment Partners LTD owned 0.05% of HDFC Bank worth $62,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Axiom Investment Management LLC bought a new position in HDFC Bank in the 1st quarter valued at $32,000. Integrated Wealth Concepts LLC bought a new stake in shares of HDFC Bank during the second quarter worth $66,000. TD Waterhouse Canada Inc. raised its position in shares of HDFC Bank by 215.5% during the second quarter. TD Waterhouse Canada Inc. now owns 3,868 shares of the bank’s stock worth $99,000 after acquiring an additional 2,642 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of HDFC Bank during the first quarter worth $102,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of HDFC Bank by 32.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,147 shares of the bank’s stock valued at $228,000 after acquiring an additional 2,265 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE:HDB opened at $22.05 on Friday. HDFC Bank Limited has a fifty-two week low of $21.70 and a fifty-two week high of $37.35. The stock has a market capitalization of $113.17 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61. The business’s 50-day simple moving average is $22.85 and its 200-day simple moving average is $24.19.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $4.95 billion. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. On average, research analysts expect that HDFC Bank Limited will post 1.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

HDB has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on HDFC Bank in a report on Friday, August 21st. They issued a “buy” rating on the stock. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. HSBC cut HDFC Bank from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.10.

About HDFC Bank

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.