Northcape Capital Pty Ltd Sells 99,073 Shares of HDFC Bank Limited (NYSE:HDB)

Northcape Capital Pty Ltd decreased its stake in HDFC Bank Limited (NYSE:HDB) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,296,460 shares of the bank’s stock after selling 99,073 shares during the period. HDFC Bank accounts for 21.3% of Northcape Capital Pty Ltd’s portfolio, making the stock its 3rd largest position. Northcape Capital Pty Ltd owned approximately 0.09% of HDFC Bank worth $143,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in HDB. Manning & Napier Advisors LLC acquired a new stake in shares of HDFC Bank in the second quarter valued at $166,709,000. Goldman Sachs Group Inc. boosted its position in HDFC Bank by 97.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 854,985 shares of the bank’s stock valued at $57,378,000 after purchasing an additional 421,740 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of HDFC Bank by 580.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock valued at $45,079,000 after buying an additional 686,789 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in HDFC Bank by 56.3% in the second quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after acquiring an additional 50,301 shares in the last quarter. Finally, Norden Group LLC acquired a new position in HDFC Bank during the first quarter worth $511,000. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HDB has been the topic of several analyst reports. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

HDFC Bank Price Performance

HDB stock traded down $0.19 during trading on Friday, hitting $60.54. 1,577,443 shares of the stock traded hands, compared to its average volume of 3,104,430. 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 $61.48 and a 200 day simple moving average of $60.04. 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 cap of $112.60 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.95 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. Equities analysts expect that HDFC Bank Limited will post 2.96 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.