William Blair Investment Management LLC Sells 572,155 Shares of HDFC Bank Limited $HDB

William Blair Investment Management LLC cut its position in shares of HDFC Bank Limited (NYSE:HDB) by 56.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 439,553 shares of the bank’s stock after selling 572,155 shares during the period. William Blair Investment Management LLC’s holdings in HDFC Bank were worth $15,015,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HDB. NewEdge Advisors LLC raised its stake in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after buying an additional 922 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after acquiring an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC raised its stake in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock valued at $601,000 after acquiring an additional 1,541 shares during the period. Assetmark Inc. raised its stake in HDFC Bank by 358.4% in the 2nd quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after acquiring an additional 552 shares during the period. Finally, Atria Investments Inc lifted its holdings in HDFC Bank by 14.0% during the 2nd quarter. Atria Investments Inc now owns 45,843 shares of the bank’s stock valued at $3,515,000 after purchasing an additional 5,627 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on HDB. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Hold”.

HDFC Bank Price Performance

HDB stock opened at $31.57 on Tuesday. HDFC Bank Limited has a fifty-two week low of $29.23 and a fifty-two week high of $39.81. The stock has a market capitalization of $161.04 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.33 and a beta of 0.56. The business’s fifty day moving average price is $33.52 and its two-hundred day moving average price is $35.01.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).