HDFC Bank Limited (NYSE:HDB) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in HDFC Bank Limited (NYSE:HDB) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 37,774 shares of the bank’s stock after selling 3,436 shares during the quarter. Truist Financial Corp’s holdings in HDFC Bank were worth $2,430,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its position in HDFC Bank by 5.4% in the second 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. grew its holdings in 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 purchasing an additional 272 shares in the last quarter. Mount Yale Investment Advisors LLC increased its stake in HDFC Bank by 5.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock worth $393,000 after buying an additional 322 shares during the period. GAMMA Investing LLC lifted its holdings in HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after buying an additional 324 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in HDFC Bank by 10.8% in the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock valued at $186,000 after buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 1.3 %

NYSE HDB opened at $60.73 on Friday. The firm has a market capitalization of $112.95 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.76 and a beta of 0.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a 50-day simple moving average of $61.46 and a 200-day simple moving average of $59.95. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last posted its earnings results 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 return on equity of 12.64% and a net margin of 14.69%. The company had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. On average, equities analysts forecast that HDFC Bank Limited will post 2.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HDB. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 4th.

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.