Bank of Montreal Can Has $3.57 Million Holdings in HDFC Bank Limited (NYSE:HDB)

Bank of Montreal Can decreased its position in HDFC Bank Limited (NYSE:HDB) by 22.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,867 shares of the bank’s stock after selling 15,922 shares during the period. Bank of Montreal Can’s holdings in HDFC Bank were worth $3,570,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital World Investors lifted its stake in shares of HDFC Bank by 208.6% in the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after purchasing an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC acquired a new position in HDFC Bank in the second quarter valued at approximately $166,709,000. PineStone Asset Management Inc. boosted its holdings in shares of HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after buying an additional 2,391,343 shares in the last quarter. Harding Loevner LP grew its position in shares of HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock worth $621,646,000 after buying an additional 2,276,203 shares during the period. Finally, CCLA Investment Management increased its stake in shares of HDFC Bank by 100,691.5% in the 1st quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock valued at $97,534,000 after acquiring an additional 1,746,998 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $62.33 on Thursday. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The stock’s 50 day moving average is $61.46 and its 200-day moving average is $59.79. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $115.92 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.76 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.27. The firm had revenue of $14.03 billion for 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%. Sell-side 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.