Trinity Street Asset Management LLP Sells 1,230,900 Shares of HDFC Bank Limited $HDB

Trinity Street Asset Management LLP cut its position in HDFC Bank Limited (NYSE:HDB) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,493,800 shares of the bank’s stock after selling 1,230,900 shares during the quarter. HDFC Bank comprises 8.6% of Trinity Street Asset Management LLP’s holdings, making the stock its 5th biggest position. Trinity Street Asset Management LLP’s holdings in HDFC Bank were worth $167,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HDB. NewEdge Advisors LLC raised its holdings in shares of HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after buying an additional 922 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of HDFC Bank by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after buying an additional 13,435 shares during the period. Sivia Capital Partners LLC grew its holdings in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after buying an additional 1,221 shares in the last quarter. Finally, First Trust Advisors LP increased its position in HDFC Bank by 29.3% in the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock valued at $3,952,000 after acquiring an additional 11,689 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Down 0.8%

Shares of NYSE:HDB opened at $23.10 on Thursday. The company has a 50 day moving average of $24.71 and a 200-day moving average of $26.82. The firm has a market cap of $118.53 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.10 and a beta of 0.65. HDFC Bank Limited has a twelve month low of $22.66 and a twelve month high of $37.85.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5 billion. Equities research analysts forecast that HDFC Bank Limited will post 1.67 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on HDB shares. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Wall Street Zen cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, HDFC Bank currently has an average rating of “Hold”.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).