HDFC Bank Limited (NYSE:HDB) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its holdings in HDFC Bank Limited (NYSE:HDB) by 85.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,864 shares of the bank’s stock after selling 316,310 shares during the period. National Bank of Canada FI’s holdings in HDFC Bank were worth $3,302,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HDB. Pin Oak Investment Advisors Inc. boosted its holdings in HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after buying an additional 254 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of HDFC Bank during the 2nd quarter worth $36,000. Northwest Investment Counselors LLC acquired a new position in shares of HDFC Bank in the 3rd quarter worth $38,000. JFS Wealth Advisors LLC raised its position 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 worth $42,000 after purchasing an additional 275 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of HDFC Bank during the third quarter valued at $65,000. Institutional investors and hedge funds 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 report on Wednesday, November 27th.

HDFC Bank Price Performance

HDB opened at $66.99 on Friday. The firm has a market capitalization of $169.64 billion, a P/E ratio of 20.36, a PEG ratio of 1.79 and a beta of 0.92. The stock has a fifty day moving average of $64.05 and a 200-day moving average of $62.27. 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 12-month low of $52.16 and a 12-month high of $68.50.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. Equities analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current fiscal 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.