HDFC Bank Limited $HDB Shares Sold by DJE Kapital AG

DJE Kapital AG reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 84.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 262,531 shares of the bank’s stock after selling 1,430,222 shares during the period. DJE Kapital AG’s holdings in HDFC Bank were worth $6,461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. NewEdge Advisors LLC lifted its holdings in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after acquiring an additional 922 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of HDFC Bank by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after purchasing an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after purchasing an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of HDFC Bank by 464.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock worth $114,000 after purchasing an additional 1,221 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of HDFC Bank by 29.3% in the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after purchasing an additional 11,689 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HDB. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

HDFC Bank Trading Down 10.7%

Shares of NYSE:HDB opened at $23.56 on Tuesday. The firm’s 50 day moving average is $24.91 and its two-hundred day moving average is $28.01. The firm has a market capitalization of $120.21 billion, a P/E ratio of 14.11, a PEG ratio of 1.23 and a beta of 0.64. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 20th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). HDFC Bank had a return on equity of 12.96% and a net margin of 15.30%.The business had revenue of $9.01 billion for the quarter, compared to analyst estimates of $5.06 billion. Analysts predict that HDFC Bank Limited will post 1.69 EPS for the current year.

Key Stories Impacting HDFC Bank

Here are the key news stories impacting HDFC Bank this week:

• Positive Sentiment: HDFC Bank reported quarterly EPS of $0.39, slightly ahead of the $0.38 consensus estimate, and revenue of $9.01 billion versus expectations of $5.06 billion, which shows the bank still delivered a top- and bottom-line beat. Listen to Conference Call
• Positive Sentiment: Loan growth remained healthy at about 15.4% year over year and deposit growth was about 13.3%, indicating the core franchise is still expanding. HDFC Bank ADR Drops as Margin Compression Overshadows Quarterly Growth
• Neutral Sentiment: Management also reported a return on equity of 12.96% and a net margin of 15.30%, suggesting solid operating performance even as the market remains focused on the next quarter’s trend. HDFC Bank stock page
• Negative Sentiment: Despite the earnings beat, the stock is falling because net interest margin narrowed to about 3.26%, raising concerns that stronger balance-sheet growth is not translating into earnings as efficiently as expected. HDFC Bank ADR Drops as Margin Compression Overshadows Quarterly Growth
• Negative Sentiment: Market commentary also points to softer core income momentum and lower other income, which appears to be overshadowing the bank’s otherwise solid quarterly growth. Why did HDFC Bank ADR tanked nearly 10% after stock crash in Dalal Street?

Insider Buying and Selling at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the transaction, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by insiders.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).