784,307 HDFC Bank Limited $HDB Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP lessened its stake in HDFC Bank Limited (NYSE:HDB) by 20.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,014,543 shares of the bank’s stock after selling 784,307 shares during the quarter. HDFC Bank makes up about 0.7% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 28th largest position. Sustainable Growth Advisers LP owned about 0.06% of HDFC Bank worth $67,345,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of HDB. Axiom Investment Management LLC purchased a new stake in HDFC Bank in the 1st quarter worth $32,000. Bell Investment Advisors Inc grew its position in shares of HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,002 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of HDFC Bank during the second quarter valued at about $66,000. TD Waterhouse Canada Inc. increased its holdings in shares of HDFC Bank by 215.5% in the second quarter. TD Waterhouse Canada Inc. now owns 3,868 shares of the bank’s stock worth $99,000 after purchasing an additional 2,642 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of HDFC Bank in the first quarter worth about $102,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 4.0%

HDFC Bank stock opened at $23.54 on Friday. The company’s 50-day moving average price is $22.90 and its 200-day moving average price is $24.27. HDFC Bank Limited has a twelve month low of $21.70 and a twelve month high of $37.45. The company has a market cap of $120.76 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, July 18th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. HDFC Bank had a net margin of 15.96% and a return on equity of 11.84%. The firm had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $5 billion. As a group, sell-side analysts expect that HDFC Bank Limited will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HDB shares. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. The Goldman Sachs Group began coverage on HDFC Bank in a research note on Friday, August 21st. They issued a “buy” rating on the stock. HSBC cut HDFC Bank from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Finally, Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.10.

About HDFC Bank

HDFC Bank Limited is a financial services company headquartered in Mumbai, India. Established in 1994, it operates as a private-sector commercial bank serving individuals, businesses, institutions and government-related entities.

The bank offers a broad range of products and services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, investment products and insurance distribution.