Loomis Sayles & Co. L P Has $319,000 Position in HDFC Bank Limited (NYSE:HDB)

Loomis Sayles & Co. L P trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 89.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,097 shares of the bank’s stock after selling 42,491 shares during the quarter. Loomis Sayles & Co. L P’s holdings in HDFC Bank were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in HDFC Bank by 2.3% in the second quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after buying an additional 263,690 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of HDFC Bank by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock valued at $302,970,000 after acquiring an additional 51,736 shares in the last quarter. PineStone Asset Management Inc. lifted its position in shares of HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after acquiring an additional 2,391,343 shares during the period. Fisher Asset Management LLC boosted its stake in HDFC Bank by 9.0% during the third quarter. Fisher Asset Management LLC now owns 3,955,982 shares of the bank’s stock worth $247,486,000 after acquiring an additional 325,999 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in HDFC Bank by 18.1% in the second quarter. Millennium Management LLC now owns 2,864,145 shares of the bank’s stock worth $184,250,000 after purchasing an additional 438,750 shares during the period. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday.

HDFC Bank Stock Up 1.3 %

Shares of NYSE:HDB opened at $67.50 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.76. The business’s 50 day simple moving average is $63.32 and its two-hundred day simple moving average is $61.45. The firm has a market cap of $170.93 billion, a P/E ratio of 20.52, a PEG ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (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 company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. As a group, research analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

About HDFC Bank

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.