BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Position in HDFC Bank Limited (NYSE:HDB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in HDFC Bank Limited (NYSE:HDB) by 54.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,614 shares of the bank’s stock after selling 101,454 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in HDFC Bank were worth $5,230,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of HDFC Bank by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after acquiring an additional 263,690 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in HDFC Bank by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank’s stock worth $308,214,000 after acquiring an additional 486,653 shares during the last quarter. PineStone Asset Management Inc. increased its stake in shares of HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after buying an additional 2,391,343 shares during the period. Millennium Management LLC raised its stake in shares of HDFC Bank by 18.1% during the second quarter. Millennium Management LLC now owns 2,864,145 shares of the bank’s stock valued at $184,250,000 after acquiring an additional 438,750 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in HDFC Bank in the 2nd quarter worth approximately $166,709,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Trading Up 1.4 %

NYSE:HDB opened at $64.50 on Monday. The stock has a market cap of $163.33 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.69 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average price is $63.03 and its 200-day moving average price is $61.21. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. On average, equities research analysts forecast that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

HDFC Bank 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.