Shelton Capital Management Sells 13,353 Shares of HDFC Bank Limited (NYSE:HDB)

Shelton Capital Management trimmed its stake in shares of HDFC Bank Limited (NYSE:HDB) by 16.0% in the second quarter, HoldingsChannel.com reports. The fund owned 70,302 shares of the bank’s stock after selling 13,353 shares during the quarter. Shelton Capital Management’s holdings in HDFC Bank were worth $4,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of HDB. Cary Street Partners Investment Advisory LLC lifted its position in shares of HDFC Bank by 114.4% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 403 shares of the bank’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Boston Partners lifted its position in shares of HDFC Bank by 15.1% during the 2nd quarter. Boston Partners now owns 892,504 shares of the bank’s stock worth $62,208,000 after buying an additional 117,016 shares during the last quarter. Keystone Investors PTE Ltd. bought a new stake in shares of HDFC Bank during the 2nd quarter worth $13,459,000. Private Advisor Group LLC lifted its position in shares of HDFC Bank by 7.6% during the 2nd quarter. Private Advisor Group LLC now owns 9,917 shares of the bank’s stock worth $680,000 after buying an additional 701 shares during the last quarter. Finally, Trillium Asset Management LLC lifted its position in shares of HDFC Bank by 2.1% during the 2nd quarter. Trillium Asset Management LLC now owns 117,596 shares of the bank’s stock worth $8,196,000 after buying an additional 2,388 shares during the last quarter. 17.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HDB has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded HDFC Bank from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 21st. TheStreet cut HDFC Bank from a “b-” rating to a “c” rating in a report on Tuesday, October 17th. Finally, StockNews.com initiated coverage on HDFC Bank in a report on Thursday, October 5th. They issued a “hold” rating for the company.

HDFC Bank Price Performance

Shares of HDB opened at $58.14 on Friday. HDFC Bank Limited has a 12-month low of $55.95 and a 12-month high of $71.76. The business has a 50-day simple moving average of $58.91 and a two-hundred day simple moving average of $63.80. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.79. The stock has a market cap of $108.14 billion, a PE ratio of 17.89, a PEG ratio of 1.45 and a beta of 0.78.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, October 16th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $8.02 billion during the quarter. HDFC Bank had a return on equity of 16.81% and a net margin of 19.47%. Analysts anticipate that HDFC Bank Limited will post 2.78 earnings per share for the current fiscal year.

About HDFC Bank

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.