Zevin Asset Management LLC Sells 2,198 Shares of HDFC Bank Limited (NYSE:HDB)

Zevin Asset Management LLC lowered its stake in HDFC Bank Limited (NYSE:HDB) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,686 shares of the bank’s stock after selling 2,198 shares during the period. HDFC Bank accounts for 1.8% of Zevin Asset Management LLC’s holdings, making the stock its 25th largest holding. Zevin Asset Management LLC’s holdings in HDFC Bank were worth $11,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. raised its holdings in HDFC Bank by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after buying an additional 263,690 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of HDFC Bank by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock worth $308,214,000 after purchasing an additional 486,653 shares during the period. PineStone Asset Management Inc. grew its stake in shares of HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after purchasing an additional 2,391,343 shares during the last quarter. Capital World Investors increased its holdings in HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after purchasing an additional 2,788,197 shares during the period. Finally, Millennium Management LLC raised its position in HDFC Bank by 18.1% during the 2nd quarter. Millennium Management LLC now owns 2,864,145 shares of the bank’s stock worth $184,250,000 after purchasing an additional 438,750 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the subject of several analyst reports. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Stock Performance

HDB stock opened at $61.90 on Monday. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average price of $62.86 and a 200-day moving average price of $61.00. The firm has a market cap of $156.75 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09. The company had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. As a group, equities research analysts expect that HDFC Bank Limited will post 3.2 earnings per share for the current year.

HDFC Bank Company 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.