Bishop Rock Capital L.P. Cuts Stake in HDFC Bank Limited (HDB)

Bishop Rock Capital L.P. decreased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 34.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,685 shares of the bank’s stock after selling 25,610 shares during the period. HDFC Bank makes up 3.3% of Bishop Rock Capital L.P.’s investment portfolio, making the stock its 17th largest holding. Bishop Rock Capital L.P.’s holdings in HDFC Bank were worth $4,595,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Counselors Inc. boosted its stake in HDFC Bank by 0.8% during the second quarter. Financial Counselors Inc. now owns 5,791 shares of the bank’s stock worth $504,000 after acquiring an additional 46 shares in the last quarter. Trillium Asset Management LLC lifted its stake in shares of HDFC Bank by 0.3% in the second quarter. Trillium Asset Management LLC now owns 36,636 shares of the bank’s stock worth $3,186,000 after buying an additional 115 shares in the last quarter. Creative Planning lifted its stake in shares of HDFC Bank by 7.1% in the second quarter. Creative Planning now owns 1,821 shares of the bank’s stock worth $158,000 after buying an additional 121 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of HDFC Bank by 1.1% in the second quarter. Bahl & Gaynor Inc. now owns 11,160 shares of the bank’s stock worth $677,000 after buying an additional 124 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of HDFC Bank by 7.0% in the second quarter. IFP Advisors Inc now owns 2,072 shares of the bank’s stock worth $180,000 after buying an additional 136 shares in the last quarter. 17.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HDFC Bank Limited (NYSE:HDB) traded up $0.40 during midday trading on Thursday, hitting $94.59. 495,800 shares of the stock traded hands, compared to its average volume of 709,187. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. HDFC Bank Limited has a 52-week low of $59.00 and a 52-week high of $100.26. The company has a market capitalization of $80,455.41, a P/E ratio of 35.41, a PEG ratio of 1.07 and a beta of 0.85.

Separately, Zacks Investment Research downgraded shares of HDFC Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $110.00.

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About HDFC Bank

HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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