DSM Capital Partners LLC Sells 26,873 Shares of HDFC Bank Limited (NYSE:HDB)

DSM Capital Partners LLC cut its holdings in HDFC Bank Limited (NYSE:HDB) by 27.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 72,249 shares of the bank’s stock after selling 26,873 shares during the period. DSM Capital Partners LLC’s holdings in HDFC Bank were worth $4,648,000 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. Northwest Investment Counselors LLC purchased a new position in HDFC Bank in the first quarter worth $34,000. Janiczek Wealth Management LLC purchased a new stake in HDFC Bank during the first quarter worth about $35,000. Ridgewood Investments LLC bought a new stake in HDFC Bank in the second quarter worth about $36,000. LRI Investments LLC bought a new stake in HDFC Bank in the first quarter worth about $56,000. Finally, GAMMA Investing LLC boosted its stake in HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after acquiring an additional 324 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on HDB. JPMorgan Chase & Co. cut 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.

HDFC Bank Stock Up 0.1 %

HDB opened at $66.16 on Thursday. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44. The company has a market cap of $123.05 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.76 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. The company has a 50 day moving average of $61.01 and a 200 day moving average of $59.48.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The firm had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. On average, sell-side analysts expect that HDFC Bank Limited will post 2.97 EPS for the current year.

HDFC Bank 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.