TT International Asset Management LTD Sells 1,564,788 Shares of HDFC Bank Limited (NYSE:HDB)

TT International Asset Management LTD lessened its holdings in HDFC Bank Limited (NYSE:HDB) by 97.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,304 shares of the bank’s stock after selling 1,564,788 shares during the period. TT International Asset Management LTD’s holdings in HDFC Bank were worth $2,646,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HDB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in HDFC Bank by 2,092.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock worth $213,851,000 after purchasing an additional 3,262,442 shares during the last quarter. TPG GP A LLC bought a new stake in HDFC Bank in the second quarter worth $95,637,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in HDFC Bank by 130.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock worth $140,593,000 after purchasing an additional 1,236,100 shares during the last quarter. FMR LLC increased its position in HDFC Bank by 19.3% in the third quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock worth $430,339,000 after purchasing an additional 1,114,210 shares during the last quarter. Finally, Eminence Capital LP bought a new stake in HDFC Bank in the second quarter worth $68,340,000. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Trading Down 0.5 %

HDB stock opened at $67.66 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50. The stock has a market capitalization of $171.32 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The firm’s fifty day simple moving average is $63.59 and its two-hundred day simple moving average is $62.07.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share 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 business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. As a group, analysts anticipate that HDFC Bank Limited will post 3.15 earnings per share for the current year.

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.