HDFC Bank Limited $HDB Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in HDFC Bank Limited (NYSE:HDB) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,937,089 shares of the bank’s stock after selling 1,541,252 shares during the period. Lazard Asset Management LLC’s holdings in HDFC Bank were worth $272,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of HDFC Bank by 16,808.5% during the first quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank’s stock worth $447,289,000 after purchasing an additional 17,871,520 shares during the last quarter. Royal Bank of Canada grew its stake in HDFC Bank by 31.0% in the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after acquiring an additional 9,451,992 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in HDFC Bank by 9,866.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after acquiring an additional 7,864,692 shares in the last quarter. Wellington Management Group LLP increased its holdings in HDFC Bank by 94.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after acquiring an additional 6,386,002 shares in the last quarter. Finally, Invesco Ltd. raised its position in HDFC Bank by 98.3% during the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after acquiring an additional 6,115,797 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HDB shares. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, HDFC Bank has an average rating of “Hold”.

Insiders Place Their Bets

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. The trade was a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $23.26 on Monday. HDFC Bank Limited has a 1 year low of $22.66 and a 1 year high of $39.07. The firm has a market capitalization of $118.67 billion, a PE ratio of 13.68, a P/E/G ratio of 1.10 and a beta of 0.64. The business’s 50 day moving average price is $24.83 and its 200-day moving average price is $27.66.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $5 billion. HDFC Bank had a return on equity of 13.14% and a net margin of 15.96%. As a group, analysts expect that HDFC Bank Limited will post 1.67 earnings per share for the current year.

HDFC Bank Company 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).