Alberta Investment Management Corp Sells 82,973 Shares of HDFC Bank Limited (NYSE:HDB)

Alberta Investment Management Corp cut its stake in HDFC Bank Limited (NYSE:HDB) by 50.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,623 shares of the bank’s stock after selling 82,973 shares during the quarter. Alberta Investment Management Corp’s holdings in HDFC Bank were worth $5,489,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HDB. Larson Financial Group LLC lifted its position in shares of HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after purchasing an additional 507 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of HDFC Bank during the first quarter worth $55,000. Atlas Capital Advisors Inc. bought a new stake in shares of HDFC Bank during the fourth quarter worth $56,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of HDFC Bank by 109.7% during the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank’s stock worth $56,000 after purchasing an additional 443 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Trading Up 0.3%

NYSE:HDB opened at $77.00 on Friday. HDFC Bank Limited has a twelve month low of $57.24 and a twelve month high of $79.61. The company has a market cap of $194.99 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.91 and a beta of 0.64. The stock has a fifty day simple moving average of $75.98 and a 200-day simple moving average of $68.81.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. As a group, equities research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th.

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.