Oppenheimer Asset Management Inc. Trims Holdings in HDFC Bank Limited (NYSE:HDB)

Oppenheimer Asset Management Inc. reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 10.4% in the fourth quarter, HoldingsChannel reports. The fund owned 224,155 shares of the bank’s stock after selling 26,093 shares during the period. Oppenheimer Asset Management Inc.’s holdings in HDFC Bank were worth $14,315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDB. Temasek Holdings Private Ltd increased its position in HDFC Bank by 1.6% during the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after buying an additional 132,445 shares in the last quarter. FMR LLC boosted its stake in HDFC Bank by 19.3% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its stake in HDFC Bank by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock valued at $420,477,000 after purchasing an additional 560,880 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of HDFC Bank by 2.2% in the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after buying an additional 108,312 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of HDFC Bank by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock valued at $302,970,000 after buying an additional 51,736 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the topic of several recent analyst reports. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Up 0.7 %

Shares of HDFC Bank stock opened at $60.42 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a twelve month low of $53.00 and a twelve month high of $68.50. The company has a market cap of $152.99 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The company’s 50 day moving average is $60.94 and its 200 day moving average is $62.41.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

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.