Van ECK Associates Corp Trims Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Van ECK Associates Corp reduced its stake in HDFC Bank Limited (NYSE:HDB) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,269 shares of the bank’s stock after selling 78,849 shares during the quarter. Van ECK Associates Corp’s holdings in HDFC Bank were worth $5,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Channing Global Advisors LLC grew its position in HDFC Bank by 20.8% during the fourth quarter. Channing Global Advisors LLC now owns 41,560 shares of the bank’s stock worth $2,654,000 after buying an additional 7,156 shares during the period. Schwartz Investment Counsel Inc. boosted its stake in shares of HDFC Bank by 3.9% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 50,050 shares of the bank’s stock worth $3,196,000 after acquiring an additional 1,900 shares in the last quarter. Portfolio Design Labs LLC acquired a new stake in shares of HDFC Bank in the 4th quarter worth approximately $260,000. Aubrey Capital Management Ltd increased its stake in HDFC Bank by 29.6% in the 4th quarter. Aubrey Capital Management Ltd now owns 15,910 shares of the bank’s stock valued at $1,016,000 after purchasing an additional 3,632 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in HDFC Bank by 1.5% during the fourth quarter. Coronation Fund Managers Ltd. now owns 221,129 shares of the bank’s stock worth $14,121,000 after purchasing an additional 3,291 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB opened at $60.51 on Wednesday. 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 52-week low of $53.00 and a 52-week high of $68.50. The company has a 50 day moving average of $61.93 and a two-hundred day moving average of $62.41. The company has a market cap of $153.22 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.70 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last released its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, analysts expect that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Analyst Ratings Changes

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

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.