Farther Finance Advisors LLC Reduces Stock Position in HDFC Bank Limited (NYSE:HDB)

Farther Finance Advisors LLC reduced its stake in HDFC Bank Limited (NYSE:HDB) by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,746 shares of the bank’s stock after selling 582 shares during the period. Farther Finance Advisors LLC’s holdings in HDFC Bank were worth $179,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. FIL Ltd boosted its stake in HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank’s stock valued at $1,115,451,000 after buying an additional 2,599,337 shares during the period. Temasek Holdings Private Ltd increased its stake in HDFC Bank by 2.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 8,557,788 shares of the bank’s stock worth $546,500,000 after acquiring an additional 190,566 shares during the last quarter. GQG Partners LLC raised its holdings in shares of HDFC Bank by 74.4% in the 4th quarter. GQG Partners LLC now owns 7,883,347 shares of the bank’s stock valued at $503,431,000 after acquiring an additional 3,364,114 shares in the last quarter. FMR LLC boosted its position in shares of HDFC Bank by 13.3% during the 4th quarter. FMR LLC now owns 7,793,113 shares of the bank’s stock valued at $497,668,000 after acquiring an additional 914,289 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank’s stock valued at $466,629,000 after acquiring an additional 2,196,315 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th.

HDFC Bank Trading Up 0.7%

NYSE HDB opened at $74.49 on Friday. The stock has a market cap of $188.62 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.77 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $77.76. The stock has a 50 day simple moving average of $73.25 and a two-hundred day simple moving average of $66.21. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.07.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $434.68 billion. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current 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.