Toronto Dominion Bank Sells 2,651 Shares of HDFC Bank Limited (NYSE:HDB)

Toronto Dominion Bank decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 79.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 677 shares of the bank’s stock after selling 2,651 shares during the period. Toronto Dominion Bank’s holdings in HDFC Bank were worth $44,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital World Investors grew its holdings in HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after buying an additional 2,788,197 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in HDFC Bank during the 2nd quarter worth $166,709,000. PineStone Asset Management Inc. grew its stake in shares of HDFC Bank by 115.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after acquiring an additional 2,391,343 shares in the last quarter. Harding Loevner LP raised its holdings in shares of HDFC Bank by 31.7% in the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares during the last quarter. Finally, CCLA Investment Management lifted its position in shares of HDFC Bank by 100,691.5% during the first quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock valued at $97,534,000 after purchasing an additional 1,746,998 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Trading Down 0.3 %

Shares of HDFC Bank stock opened at $62.40 on Wednesday. The firm has a market cap of $116.06 billion, a PE ratio of 19.14, a P/E/G ratio of 1.76 and a beta of 0.92. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44. 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 stock has a fifty day moving average price of $61.41 and a 200-day moving average price of $59.77.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. Equities research analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current year.

Analysts Set New Price Targets

HDB has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

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.