248,375 HDFC Bank Limited $HDB Shares Sold by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD decreased its position in HDFC Bank Limited (NYSE:HDB) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,778,743 shares of the bank’s stock after selling 248,375 shares during the quarter. HDFC Bank accounts for approximately 1.3% of Mondrian Investment Partners LTD’s holdings, making the stock its 26th largest holding. Mondrian Investment Partners LTD’s holdings in HDFC Bank were worth $62,077,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Axiom Investment Management LLC acquired a new position in shares of HDFC Bank during the first quarter worth about $32,000. Integrated Wealth Concepts LLC bought a new position in shares of HDFC Bank during the second quarter worth about $66,000. TD Waterhouse Canada Inc. grew its holdings in shares of HDFC Bank by 215.5% during the second quarter. TD Waterhouse Canada Inc. now owns 3,868 shares of the bank’s stock worth $99,000 after buying an additional 2,642 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in HDFC Bank in the 1st quarter valued at approximately $102,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in HDFC Bank by 32.9% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,147 shares of the bank’s stock valued at $228,000 after buying an additional 2,265 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. The Goldman Sachs Group assumed coverage on shares of HDFC Bank in a research note on Friday, August 21st. They set a “buy” rating for the company. Finally, HSBC downgraded shares of HDFC Bank from a “buy” rating to a “hold” rating and lowered their price objective for the company from $30.80 to $26.10 in a report on Monday, August 31st. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.10.

HDFC Bank Trading Down 1.7%

Shares of HDB opened at $22.05 on Friday. The company has a market cap of $113.17 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.23 and a beta of 0.61. HDFC Bank Limited has a 1-year low of $21.70 and a 1-year high of $37.35. The company’s fifty day simple moving average is $22.85 and its 200 day simple moving average is $24.19.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 17th. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $4.95 billion. HDFC Bank had a net margin of 15.84% and a return on equity of 11.70%. As a group, research analysts forecast that HDFC Bank Limited will post 1.65 earnings per share for the current year.

About HDFC Bank

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.