HDFC Bank Limited $HDB Stock Holdings Reduced by Vise Technologies Inc.

Vise Technologies Inc. lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 54.6% during the 3rd quarter, Holdings Channel reports. The firm owned 110,838 shares of the bank’s stock after selling 133,476 shares during the period. Vise Technologies Inc.’s holdings in HDFC Bank were worth $2,476,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of HDFC Bank by 16,808.5% in the first quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank’s stock worth $447,289,000 after acquiring an additional 17,871,520 shares in the last quarter. Bank of America Corp DE increased its holdings in HDFC Bank by 40.7% during the 1st quarter. Bank of America Corp DE now owns 10,549,235 shares of the bank’s stock worth $262,465,000 after purchasing an additional 3,051,055 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in HDFC Bank in the 2nd quarter valued at about $65,204,000. Royal Bank of Canada grew its position in shares of HDFC Bank by 6.3% during the first quarter. Royal Bank of Canada now owns 42,418,483 shares of the bank’s stock worth $1,055,372,000 after buying an additional 2,520,716 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd grew its position in shares of HDFC Bank by 105.5% during the second quarter. NINE MASTS CAPITAL Ltd now owns 3,905,609 shares of the bank’s stock worth $100,882,000 after buying an additional 2,004,800 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $24.69 on Friday. The firm’s 50-day moving average is $22.71 and its two-hundred day moving average is $25.70. The company has a market capitalization of $126.71 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.64. HDFC Bank Limited has a 12-month low of $21.36 and a 12-month high of $37.35.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $4.95 billion. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. On average, analysts forecast that HDFC Bank Limited will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on HDB shares. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. HSBC cut HDFC Bank from a “buy” rating to a “hold” rating and cut their price target for the stock from $30.80 to $26.10 in a research note on Monday, August 31st. The Goldman Sachs Group began coverage on HDFC Bank in a report on Friday, August 21st. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.10.

About HDFC Bank

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.