HDFC Bank Limited $HDB Stock Position Lessened by Dnca Finance

Dnca Finance trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 75.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,600 shares of the bank’s stock after selling 30,200 shares during the period. Dnca Finance’s holdings in HDFC Bank were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC lifted its holdings in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares during the period. Goldman Sachs Group Inc. raised its position 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 buying an additional 13,435 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after buying an additional 1,541 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of HDFC Bank in the 2nd quarter worth approximately $377,000. Finally, Penserra Capital Management LLC bought a new position in shares of HDFC Bank in the second quarter valued at approximately $203,000. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, HDFC Bank presently has an average rating of “Reduce”.

HDFC Bank Stock Down 0.5%

NYSE:HDB opened at $28.25 on Friday. The stock has a fifty day simple moving average of $32.28 and a 200 day simple moving average of $34.56. The firm has a market capitalization of $144.11 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.56. HDFC Bank Limited has a 1-year low of $28.05 and a 1-year high of $39.81.

About HDFC Bank

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).