MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 7,579 Shares of HDFC Bank Limited (NYSE:HDB)

by · The Markets Daily

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 18.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,902 shares of the bank’s stock after selling 7,579 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in HDFC Bank were worth $2,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ridgewood Investments LLC purchased a new stake in HDFC Bank in the second quarter worth $36,000. Northwest Investment Counselors LLC bought a new stake in HDFC Bank during the 1st quarter valued at about $34,000. Janiczek Wealth Management LLC purchased a new stake in HDFC Bank in the 1st quarter valued at about $35,000. GAMMA Investing LLC grew its stake in HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of HDFC Bank during the first quarter worth approximately $56,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

NYSE HDB opened at $61.81 on Tuesday. The firm’s fifty day simple moving average is $61.55 and its two-hundred day simple moving average is $60.11. The firm has a market capitalization of $114.95 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.95 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44.

HDFC Bank (NYSE:HDB – Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating 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 firm had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. Analysts forecast that HDFC Bank Limited will post 2.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on HDB shares. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd.

Check Out Our Latest Report on HDFC Bank

About HDFC Bank

(Free Report)

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.

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