World Asset Management Inc Decreases Position in HDFC Bank Limited (HDB)

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World Asset Management Inc lowered its position in HDFC Bank Limited (NYSE:HDB) by 15.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,894 shares of the bank’s stock after selling 3,901 shares during the period. World Asset Management Inc’s holdings in HDFC Bank were worth $2,060,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. EFG Asset Management Americas Corp. raised its position in shares of HDFC Bank by 23.3% in the third quarter. EFG Asset Management Americas Corp. now owns 4,089 shares of the bank’s stock worth $385,000 after acquiring an additional 772 shares during the period. Northern Trust Corp raised its position in shares of HDFC Bank by 6.0% in the second quarter. Northern Trust Corp now owns 966,366 shares of the bank’s stock worth $101,487,000 after acquiring an additional 54,829 shares during the period. WCM Investment Management CA raised its position in shares of HDFC Bank by 5.2% in the second quarter. WCM Investment Management CA now owns 8,843,969 shares of the bank’s stock worth $928,794,000 after acquiring an additional 440,949 shares during the period. Ashburton Jersey Ltd acquired a new position in shares of HDFC Bank in the second quarter worth about $4,831,000. Finally, Mainstay Capital Management LLC ADV acquired a new position in shares of HDFC Bank in the second quarter worth about $105,000. Institutional investors and hedge funds own 17.29% of the company’s stock.

Shares of HDFC Bank stock opened at $89.49 on Friday. The stock has a market capitalization of $81.05 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 0.98 and a beta of 0.98. HDFC Bank Limited has a fifty-two week low of $85.43 and a fifty-two week high of $112.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.96 and a quick ratio of 0.96.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 30th. The bank reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. HDFC Bank had a net margin of 18.32% and a return on equity of 15.01%. On average, sell-side analysts predict that HDFC Bank Limited will post 3.6 earnings per share for the current year.

A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.

About HDFC Bank

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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