Burgundy Asset Management Ltd. Sells 11,100 Shares of HDFC Bank Limited (NYSE:HDB)

Burgundy Asset Management Ltd. lessened its holdings in HDFC Bank Limited (NYSE:HDB) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 360,080 shares of the bank’s stock after selling 11,100 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in HDFC Bank were worth $23,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in HDFC Bank in the 4th quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank during the first quarter worth approximately $34,000. Janiczek Wealth Management LLC acquired a new stake in HDFC Bank during the first quarter worth approximately $35,000. Ridgewood Investments LLC bought a new position in HDFC Bank during the 2nd quarter worth $36,000. Finally, LRI Investments LLC acquired a new position in HDFC Bank in the 1st quarter valued at $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HDB shares. StockNews.com cut 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 report on Monday, July 22nd.

HDFC Bank Stock Up 0.7 %

HDB stock opened at $63.44 on Thursday. The firm has a 50-day moving average price of $60.60 and a 200-day moving average price of $59.17. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month 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 stock has a market capitalization of $117.99 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.63 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 EPS for the quarter, beating the consensus estimate of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. As a group, equities research analysts anticipate that HDFC Bank Limited will post 2.97 EPS 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.