NFJ Investment Group LLC Lowers Stock Holdings in HDFC Bank Limited (NYSE:HDB)

NFJ Investment Group LLC lessened its stake in shares of HDFC Bank Limited (NYSE:HDB) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,820 shares of the bank’s stock after selling 1,975 shares during the period. NFJ Investment Group LLC’s holdings in HDFC Bank were worth $3,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HDB. Pin Oak Investment Advisors Inc. lifted its stake in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after acquiring an additional 254 shares during the period. Ridgewood Investments LLC bought a new stake in shares of HDFC Bank in the 2nd quarter valued at about $36,000. Northwest Investment Counselors LLC purchased a new stake in shares of HDFC Bank in the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC boosted its stake in shares of HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after buying an additional 324 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $66.73 on Wednesday. The company has a market capitalization of $168.98 billion, a PE ratio of 20.28, a P/E/G ratio of 1.77 and a beta of 0.92. The company has a 50-day simple moving average of $63.36 and a two-hundred day simple moving average of $61.75. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Research analysts expect that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

About HDFC Bank

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.