HDFC Bank Limited (NYSE:HDB) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC reduced its position in HDFC Bank Limited (NYSE:HDB) by 28.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,211 shares of the bank’s stock after selling 889 shares during the quarter. Icon Wealth Advisors LLC’s holdings in HDFC Bank were worth $153,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HDB. Vanguard Group Inc. raised its stake in HDFC Bank by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 122,023 shares of the bank’s stock valued at $6,830,000 after purchasing an additional 12,037 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of HDFC Bank by 34.5% in the 1st quarter. Advisors Asset Management Inc. now owns 24,400 shares of the bank’s stock worth $1,366,000 after acquiring an additional 6,261 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of HDFC Bank by 10.8% in the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock worth $186,000 after acquiring an additional 325 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of HDFC Bank in the 1st quarter worth $4,374,000. Finally, Industrial Alliance Investment Management Inc. increased its stake in shares of HDFC Bank by 36.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 7,922 shares of the bank’s stock worth $443,000 after acquiring an additional 2,118 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Stock Up 1.4 %

Shares of HDB opened at $64.50 on Monday. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a market capitalization of $163.33 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The stock has a fifty day simple moving average of $63.03 and a two-hundred day simple moving average of $61.21. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. As a group, equities analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current year.

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.