Nordea Investment Management AB Sells 54,054 Shares of HDFC Bank Limited $HDB

Nordea Investment Management AB lessened its holdings in shares of HDFC Bank Limited (NYSE:HDBFree Report) by 15.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 293,004 shares of the bank’s stock after selling 54,054 shares during the period. Nordea Investment Management AB’s holdings in HDFC Bank were worth $22,368,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Lancaster Investment Management lifted its stake in HDFC Bank by 6.5% in the 2nd quarter. Lancaster Investment Management now owns 231,000 shares of the bank’s stock valued at $17,711,000 after acquiring an additional 14,000 shares in the last quarter. Ritholtz Wealth Management lifted its stake in HDFC Bank by 65.8% in the 2nd quarter. Ritholtz Wealth Management now owns 12,785 shares of the bank’s stock valued at $980,000 after acquiring an additional 5,075 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in HDFC Bank by 0.5% in the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 243,641 shares of the bank’s stock valued at $18,675,000 after acquiring an additional 1,279 shares in the last quarter. Courier Capital LLC bought a new stake in HDFC Bank in the 2nd quarter valued at approximately $205,000. Finally, Sagespring Wealth Partners LLC lifted its stake in HDFC Bank by 78.7% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 9,798 shares of the bank’s stock valued at $751,000 after acquiring an additional 4,314 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 3.6%

HDB stock opened at $36.72 on Monday. The firm has a market capitalization of $187.33 billion, a PE ratio of 22.53, a PEG ratio of 1.95 and a beta of 0.63. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The business’s 50 day simple moving average is $35.56 and its 200 day simple moving average is $36.44.

HDFC Bank (NYSE:HDBGet Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Get Our Latest Stock Report on HDB

About HDFC Bank

(Free Report)

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.

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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