Channel Wealth LLC Cuts Position in HDFC Bank Limited (NYSE:HDB)

Channel Wealth LLC trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 69.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,108 shares of the bank’s stock after selling 42,997 shares during the period. Channel Wealth LLC’s holdings in HDFC Bank were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its stake in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank during the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC increased its holdings in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in HDFC Bank in the 3rd quarter valued at about $65,000. Finally, GAMMA Investing LLC grew its stake in HDFC Bank by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock valued at $76,000 after acquiring an additional 312 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

NYSE:HDB opened at $58.68 on Friday. The firm has a market capitalization of $148.59 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.67 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a fifty day moving average of $64.24 and a 200 day moving average of $62.63. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. On average, research analysts expect that HDFC Bank Limited will post 3.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

HDFC Bank 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.