WCM Investment Management LLC Has $2.45 Million Position in HDFC Bank Limited (NYSE:HDB)

WCM Investment Management LLC trimmed its stake in shares of HDFC Bank Limited (NYSE:HDB) by 25.2% in the third quarter, HoldingsChannel reports. The firm owned 38,116 shares of the bank’s stock after selling 12,873 shares during the quarter. WCM Investment Management LLC’s holdings in HDFC Bank were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Catalytic Wealth RIA LLC acquired a new position in HDFC Bank in the 3rd quarter valued at about $216,000. River Global Investors LLP boosted its holdings in shares of HDFC Bank by 4.5% during the third quarter. River Global Investors LLP now owns 28,324 shares of the bank’s stock worth $1,772,000 after acquiring an additional 1,228 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of HDFC Bank by 7.4% during the third quarter. Crossmark Global Holdings Inc. now owns 69,492 shares of the bank’s stock worth $4,347,000 after acquiring an additional 4,764 shares during the period. Atria Investments Inc grew its position in shares of HDFC Bank by 9.4% in the third quarter. Atria Investments Inc now owns 48,111 shares of the bank’s stock valued at $3,010,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Portside Wealth Group LLC increased its stake in shares of HDFC Bank by 24.6% during the third quarter. Portside Wealth Group LLC now owns 8,731 shares of the bank’s stock worth $546,000 after purchasing an additional 1,721 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.7 %

Shares of HDB opened at $64.52 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $163.38 billion, a PE ratio of 19.61, a P/E/G ratio of 1.68 and a beta of 0.91. The firm’s 50 day moving average is $62.73 and its 200-day moving average is $60.86. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HDB shares. StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

HDFC Bank Company 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.