Banque Pictet & Cie SA Cuts Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Banque Pictet & Cie SA lowered its stake in HDFC Bank Limited (NYSE:HDB) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,565 shares of the bank’s stock after selling 1,331 shares during the period. Banque Pictet & Cie SA’s holdings in HDFC Bank were worth $2,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HDB. International Assets Investment Management LLC bought a new stake in HDFC Bank in the fourth quarter valued at approximately $3,202,000. Daiwa Securities Group Inc. purchased a new position in shares of HDFC Bank in the fourth quarter worth $136,000. New York State Common Retirement Fund raised its holdings in HDFC Bank by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 248,309 shares of the bank’s stock valued at $16,664,000 after buying an additional 872 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after buying an additional 291 shares during the period. Finally, GAMMA Investing LLC bought a new stake in HDFC Bank in the 4th quarter worth $33,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $60.93 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The firm’s fifty day simple moving average is $61.31 and its 200 day simple moving average is $58.19. The stock has a market cap of $113.32 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44.

HDFC Bank (NYSE:HDB) last announced its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.81 billion. As a group, research analysts predict that HDFC Bank Limited will post 2.88 EPS for the current year.

Analyst Ratings Changes

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

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.