HDFC Bank Limited (NYSE:HDB) Position Decreased by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda trimmed its stake in shares of HDFC Bank Limited (NYSE:HDB) by 50.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,217 shares of the bank’s stock after selling 53,216 shares during the period. SPX Gestao de Recursos Ltda’s holdings in HDFC Bank were worth $3,423,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FIL Ltd increased its position in HDFC Bank by 10.8% in the 4th quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock worth $912,313,000 after purchasing an additional 1,326,574 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of HDFC Bank by 2.3% during the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after purchasing an additional 263,690 shares during the period. Harding Loevner LP raised its stake in shares of HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after buying an additional 2,276,203 shares in the last quarter. Sustainable Growth Advisers LP lifted its stake in HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after purchasing an additional 1,711,784 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of HDFC Bank by 1.6% during the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock worth $581,679,000 after buying an additional 133,791 shares during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HDB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th.

HDFC Bank Stock Down 2.8 %

HDFC Bank stock opened at $62.56 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The company’s 50-day moving average is $61.37 and its 200-day moving average is $59.72. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44. The firm has a market capitalization of $116.36 billion, a PE ratio of 19.19, a P/E/G ratio of 1.76 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.27. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. Sell-side analysts anticipate that HDFC Bank Limited will post 2.97 earnings per share for the current 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.