Charles Lim Capital Ltd Sells 150,000 Shares of HDFC Bank Limited (NYSE:HDB)

Charles Lim Capital Ltd reduced its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,675,000 shares of the bank’s stock after selling 150,000 shares during the period. HDFC Bank makes up 26.4% of Charles Lim Capital Ltd’s holdings, making the stock its largest position. Charles Lim Capital Ltd owned approximately 0.09% of HDFC Bank worth $107,753,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in HDFC Bank during the 4th quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new position in shares of HDFC Bank in the first quarter valued at about $34,000. Janiczek Wealth Management LLC acquired a new position in shares of HDFC Bank in the first quarter valued at about $35,000. Ridgewood Investments LLC acquired a new position in shares of HDFC Bank in the second quarter valued at about $36,000. Finally, LRI Investments LLC acquired a new position in shares of HDFC Bank in the first quarter valued at about $56,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.2 %

Shares of HDB opened at $62.98 on Wednesday. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. 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 company has a market capitalization of $117.13 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.63 and a beta of 0.92. The stock’s 50-day moving average price is $60.54 and its 200-day moving average price is $59.14.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. On average, sell-side analysts predict that HDFC Bank Limited will post 2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of research reports. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a 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.