Migdal Insurance & Financial Holdings Ltd. Sells 11,000 Shares of HDFC Bank Limited (NYSE:HDB)

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,724 shares of the bank’s stock after selling 11,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in HDFC Bank were worth $1,714,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Temasek Holdings Private Ltd grew its stake in shares of HDFC Bank by 1.6% during the 3rd quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after acquiring an additional 132,445 shares during the period. FMR LLC grew its stake in shares of HDFC Bank by 19.3% during the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after acquiring an additional 1,114,210 shares during the period. Franklin Resources Inc. boosted its stake in HDFC Bank by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after purchasing an additional 560,880 shares during the period. Wellington Management Group LLP boosted its stake in HDFC Bank by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after purchasing an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 worth $302,970,000 after purchasing an additional 51,736 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on HDB shares. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Up 0.5 %

Shares of HDB opened at $61.90 on Friday. The stock has a market capitalization of $156.74 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $68.50. The business’s 50 day simple moving average is $62.98 and its 200-day simple moving average is $62.38. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, equities analysts expect that HDFC Bank Limited will post 3.09 earnings per share for the current fiscal year.

HDFC Bank Company 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.