HDFC Bank Limited (NYSE:HDB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of HDFC Bank Limited (NYSE:HDB – Get Rating) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,462,082 shares of the bank’s stock after selling 2,875 shares during the period. Bank of New York Mellon Corp’s holdings in HDFC Bank were worth $143,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heritage Wealth Management LLC acquired a new stake in HDFC Bank during the second quarter worth about $33,000. Penserra Capital Management LLC acquired a new stake in shares of HDFC Bank in the third quarter valued at about $35,000. Trustcore Financial Services LLC acquired a new stake in shares of HDFC Bank in the third quarter valued at about $37,000. PenderFund Capital Management Ltd. acquired a new stake in shares of HDFC Bank in the third quarter valued at about $55,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of HDFC Bank by 130.1% in the third quarter. Newbridge Financial Services Group Inc. now owns 711 shares of the bank’s stock valued at $42,000 after buying an additional 402 shares in the last quarter. 17.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on HDFC Bank in a research note on Thursday. They issued a “hold” rating for the company.

HDFC Bank Price Performance

HDB stock opened at $63.15 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.36 and a current ratio of 0.36. HDFC Bank Limited has a 1 year low of $50.61 and a 1 year high of $71.76. The firm has a market cap of $116.73 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.22 and a beta of 0.75. The stock has a 50-day simple moving average of $67.30 and a 200-day simple moving average of $65.49.

HDFC Bank (NYSE:HDB – Get Rating) last issued its quarterly earnings results on Saturday, January 14th. The bank reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.69 billion. HDFC Bank had a return on equity of 16.86% and a net margin of 22.90%. On average, equities analysts predict that HDFC Bank Limited will post 2.91 earnings per share for the current fiscal year.

About HDFC Bank

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HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.