Dorsey & Whitney Trust CO LLC Sells 1,810 Shares of HDFC Bank Limited (NYSE:HDB)

Dorsey & Whitney Trust CO LLC decreased its position in shares of HDFC Bank Limited (NYSE:HDB) by 27.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,673 shares of the bank’s stock after selling 1,810 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in HDFC Bank were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. grew its stake in HDFC Bank by 0.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock worth $1,504,000 after purchasing an additional 183 shares during the period. Private Advisor Group LLC grew its position 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 worth $661,000 after buying an additional 218 shares during the period. UMB Bank n.a. increased its stake in shares of HDFC Bank by 5.4% in 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. Endowment Wealth Management Inc. lifted its position in shares of HDFC Bank by 6.5% during the 1st quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock valued at $248,000 after acquiring an additional 272 shares during the period. Finally, GAMMA Investing LLC grew its holdings in HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Performance

Shares of HDB stock opened at $62.48 on Friday. 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 firm has a fifty day simple moving average of $60.47 and a two-hundred day simple moving average of $58.88. 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 $116.21 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued 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. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Analysts forecast that HDFC Bank Limited will post 2.97 EPS for the current fiscal 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.