Ninety One UK Ltd Sells 58,818 Shares of HDFC Bank Limited (NYSE:HDB)

Ninety One UK Ltd reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,513,474 shares of the bank’s stock after selling 58,818 shares during the period. Ninety One UK Ltd’s holdings in HDFC Bank were worth $168,679,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fithian LLC bought a new position in HDFC Bank during the fourth quarter valued at about $1,319,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in HDFC Bank in the third quarter worth $27,000. NBC Securities Inc. purchased a new stake in HDFC Bank in the 3rd quarter worth about $29,000. Resurgent Financial Advisors LLC purchased a new position in HDFC Bank in the 4th quarter valued at approximately $40,000. Finally, FinTrust Capital Advisors LLC raised its holdings in HDFC Bank by 36.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 693 shares of the bank’s stock valued at $41,000 after acquiring an additional 185 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDFC Bank stock traded up $0.60 during trading hours on Thursday, reaching $57.42. The company had a trading volume of 1,128,578 shares, compared to its average volume of 3,598,421. The firm has a market cap of $106.80 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87. HDFC Bank Limited has a one year low of $52.16 and a one year high of $71.39. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.52 and a quick ratio of 0.52. The business has a fifty day simple moving average of $55.50 and a 200 day simple moving average of $58.58.

HDFC Bank (NYSE:HDB) last released its earnings results on Tuesday, January 16th. The bank reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.11. HDFC Bank had a return on equity of 15.98% and a net margin of 17.34%. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, analysts anticipate that HDFC Bank Limited will post 2.71 earnings per share for the current fiscal 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.