HDFC Bank Limited (NYSE:HDB) Shares Sold by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC reduced its stake in shares of HDFC Bank Limited (NYSE:HDB) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 459,214 shares of the bank’s stock after selling 28,990 shares during the quarter. HDFC Bank comprises approximately 1.8% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 22nd biggest position. Wilkinson Global Asset Management LLC’s holdings in HDFC Bank were worth $29,541,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Caprock Group LLC raised its position in HDFC Bank by 40.0% during the second quarter. Caprock Group LLC now owns 19,692 shares of the bank’s stock valued at $1,267,000 after acquiring an additional 5,629 shares in the last quarter. Letko Brosseau & Associates Inc. grew its stake in shares of HDFC Bank by 19.9% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 25,200 shares of the bank’s stock worth $1,621,000 after purchasing an additional 4,175 shares during the period. Candriam S.C.A. increased its holdings in shares of HDFC Bank by 57.9% during the 2nd quarter. Candriam S.C.A. now owns 60,000 shares of the bank’s stock valued at $3,860,000 after purchasing an additional 21,999 shares in the last quarter. Waverton Investment Management Ltd acquired a new position in shares of HDFC Bank in the 2nd quarter valued at $1,271,000. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in HDFC Bank by 54.5% during the second quarter. Kornitzer Capital Management Inc. KS now owns 85,000 shares of the bank’s stock worth $5,468,000 after buying an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE HDB traded down $0.44 on Friday, hitting $60.51. The company had a trading volume of 2,784,805 shares, compared to its average volume of 3,118,064. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The company’s fifty day moving average price is $60.83 and its 200-day moving average price is $58.70. The company has a market capitalization of $112.54 billion, a PE ratio of 18.56, a PEG ratio of 1.62 and a beta of 0.92. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44.

HDFC Bank (NYSE:HDB) last announced its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. As a group, analysts predict that HDFC Bank Limited will post 2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HDB. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

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.