Rhumbline Advisers Has $15.26 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Rhumbline Advisers cut its position in shares of HDFC Bank Limited (NYSE:HDB) by 14.9% during the 2nd quarter, Holdings Channel reports. The firm owned 237,148 shares of the bank’s stock after selling 41,499 shares during the quarter. Rhumbline Advisers’ holdings in HDFC Bank were worth $15,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FIL Ltd grew its stake in HDFC Bank by 10.8% in the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock valued at $912,313,000 after buying an additional 1,326,574 shares during the last quarter. Baillie Gifford & Co. grew its stake 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. Harding Loevner LP grew its stake in HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after buying an additional 2,276,203 shares during the last quarter. Sustainable Growth Advisers LP grew its stake in HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after buying an additional 1,711,784 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in HDFC Bank by 1.6% in the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock valued at $581,679,000 after purchasing an additional 133,791 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $61.51 on Tuesday. The company has a 50 day moving average of $60.78 and a 200-day moving average of $58.79. 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 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The company has a market cap of $155.75 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The company had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. As a group, equities research analysts forecast that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.