Barings LLC Sells 21,705 Shares of HDFC Bank Limited $HDB

Barings LLC lessened its stake in HDFC Bank Limited (NYSE:HDB) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,762 shares of the bank’s stock after selling 21,705 shares during the period. HDFC Bank makes up approximately 0.5% of Barings LLC’s holdings, making the stock its 25th largest position. Barings LLC’s holdings in HDFC Bank were worth $22,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. New Vernon Capital Holdings II LLC bought a new stake in shares of HDFC Bank in the first quarter worth $1,546,956,000. GQG Partners LLC boosted its position in HDFC Bank by 105.5% in the first quarter. GQG Partners LLC now owns 16,196,992 shares of the bank’s stock worth $1,076,128,000 after purchasing an additional 8,313,645 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of HDFC Bank by 3,715.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock valued at $279,029,000 after purchasing an additional 4,089,647 shares during the period. Royal Bank of Canada grew its stake in shares of HDFC Bank by 53.5% during the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock valued at $745,107,000 after purchasing an additional 3,907,637 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of HDFC Bank during the 1st quarter valued at about $178,342,000. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

HDB opened at $36.68 on Friday. The firm has a market cap of $187.12 billion, a P/E ratio of 22.30, a PEG ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The company has a 50 day simple moving average of $35.72 and a two-hundred day simple moving average of $36.72.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.98 billion. Equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HDB shares. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, HDFC Bank has an average rating of “Moderate Buy”.

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.