Channel Wealth LLC Sells 42,997 Shares of HDFC Bank Limited (NYSE:HDB)

Channel Wealth LLC reduced its stake in HDFC Bank Limited (NYSE:HDB) by 69.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,108 shares of the bank’s stock after selling 42,997 shares during the quarter. Channel Wealth LLC’s holdings in HDFC Bank were worth $1,220,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HDB. Commonwealth Equity Services LLC boosted its position in HDFC Bank by 33.2% during the second quarter. Commonwealth Equity Services LLC now owns 8,770 shares of the bank’s stock valued at $564,000 after acquiring an additional 2,185 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of HDFC Bank by 71.3% during the 2nd quarter. Federated Hermes Inc. now owns 48,348 shares of the bank’s stock valued at $3,110,000 after purchasing an additional 20,126 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in HDFC Bank by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 957,693 shares of the bank’s stock worth $61,608,000 after purchasing an additional 82,566 shares during the period. Dimensional Fund Advisors LP increased its holdings in HDFC Bank by 612.3% in the second quarter. Dimensional Fund Advisors LP now owns 243,980 shares of the bank’s stock worth $15,695,000 after purchasing an additional 209,726 shares in the last quarter. Finally, Wealth Alliance lifted its stake in HDFC Bank by 53.2% in the second quarter. Wealth Alliance now owns 17,281 shares of the bank’s stock valued at $1,112,000 after buying an additional 6,002 shares during the period. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Trading Down 0.8 %

HDB opened at $58.68 on Friday. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $68.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. The company’s 50-day moving average is $64.24 and its 200 day moving average is $62.63. The firm has a market capitalization of $148.59 billion, a PE ratio of 17.84, a P/E/G ratio of 1.67 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, research analysts predict that HDFC Bank Limited will post 3.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

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.