Fifth Third Bancorp Cuts Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Fifth Third Bancorp lowered its stake in HDFC Bank Limited (NYSE:HDB) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,535 shares of the bank’s stock after selling 2,290 shares during the quarter. Fifth Third Bancorp’s holdings in HDFC Bank were worth $2,608,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in HDFC Bank during the fourth quarter valued at approximately $3,202,000. Daiwa Securities Group Inc. bought a new position in shares of HDFC Bank during the 4th quarter valued at approximately $136,000. Verdence Capital Advisors LLC boosted its position in shares of HDFC Bank by 2.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 9,816 shares of the bank’s stock valued at $659,000 after acquiring an additional 253 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of HDFC Bank by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 248,309 shares of the bank’s stock valued at $16,664,000 after purchasing an additional 872 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its position in HDFC Bank by 43.6% in the fourth quarter. Marks Group Wealth Management Inc now owns 8,332 shares of the bank’s stock worth $559,000 after purchasing an additional 2,528 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 0.5 %

Shares of HDFC Bank stock traded up $0.33 on Wednesday, reaching $60.42. The company had a trading volume of 1,847,481 shares, compared to its average volume of 3,179,197. The firm has a market cap of $112.38 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.66 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50-day moving average price is $61.30 and its two-hundred day moving average price is $58.11. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The company had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. As a group, research analysts predict that HDFC Bank Limited will post 2.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on HDB. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

HDFC Bank Company Profile

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.