Cable Hill Partners LLC Cuts Position in HDFC Bank Limited (NYSE:HDB)

Cable Hill Partners LLC cut its holdings in HDFC Bank Limited (NYSE:HDB) by 24.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,207 shares of the bank’s stock after selling 2,025 shares during the period. Cable Hill Partners LLC’s holdings in HDFC Bank were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. UMB Bank n.a. raised its stake in shares of HDFC Bank by 5.4% during the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock valued at $311,000 after purchasing an additional 248 shares during the period. Mount Yale Investment Advisors LLC grew its holdings in HDFC Bank by 4.2% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after buying an additional 257 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after buying an additional 275 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in shares of HDFC Bank by 1.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 25,576 shares of the bank’s stock worth $1,600,000 after buying an additional 308 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after buying an additional 312 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

HDFC Bank Price Performance

HDFC Bank stock opened at $61.38 on Thursday. The business has a 50-day simple moving average of $62.82 and a 200 day simple moving average of $60.93. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The stock has a market cap of $155.43 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last issued 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 analyst estimates of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. On average, research analysts forecast that HDFC Bank Limited will post 3.2 earnings per share for the current fiscal year.

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.