Vontobel Holding Ltd. Decreases Holdings in HDFC Bank Limited (NYSE:HDB)

Vontobel Holding Ltd. reduced its position in HDFC Bank Limited (NYSE:HDB) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,986,718 shares of the bank’s stock after selling 682,248 shares during the period. Vontobel Holding Ltd. owned about 0.11% of HDFC Bank worth $124,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth $36,000. Northwest Investment Counselors LLC purchased a new position in HDFC Bank during the 1st quarter valued at about $34,000. Janiczek Wealth Management LLC acquired a new position in HDFC Bank during the first quarter worth about $35,000. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 324 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of HDFC Bank in the first quarter valued at about $56,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Price Performance

HDFC Bank stock traded up $0.77 during midday trading on Wednesday, reaching $62.16. 403,817 shares of the company were exchanged, compared to its average volume of 3,074,457. The firm’s 50-day simple moving average is $61.61 and its 200-day simple moving average is $60.15. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44. The company has a market capitalization of $115.61 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.95 and a beta of 0.92. 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 issued 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 business had revenue of $14.03 billion during 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%. On average, analysts anticipate that HDFC Bank Limited will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.