CIBC Asset Management Inc Sells 161,110 Shares of HDFC Bank Limited (NYSE:HDB)

CIBC Asset Management Inc lessened its stake in shares of HDFC Bank Limited (NYSE:HDB) by 48.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,406 shares of the bank’s stock after selling 161,110 shares during the period. CIBC Asset Management Inc’s holdings in HDFC Bank were worth $11,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of HDFC Bank by 0.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock valued at $1,504,000 after acquiring an additional 183 shares in the last quarter. Endowment Wealth Management Inc. boosted its holdings in shares of HDFC Bank by 4.6% during the 4th quarter. Endowment Wealth Management Inc. now owns 4,166 shares of the bank’s stock valued at $280,000 after acquiring an additional 184 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of HDFC Bank by 2.3% during the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock valued at $661,000 after acquiring an additional 218 shares in the last quarter. UMB Bank n.a. boosted its holdings 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 acquiring an additional 248 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in HDFC Bank by 19.1% during the 4th quarter. First Horizon Advisors Inc. now owns 1,634 shares of the bank’s stock worth $110,000 after buying an additional 262 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Trading Down 0.3 %

NYSE HDB opened at $60.93 on Wednesday. The business’s 50-day moving average price is $61.05 and its two-hundred day moving average price is $58.59. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44. The firm has a market capitalization of $113.32 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. The company had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. On average, analysts expect that HDFC Bank Limited will post 2.98 EPS 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.