Van ECK Associates Corp Decreases Stake in HDFC Bank Limited (NYSE:HDB)

Van ECK Associates Corp reduced its stake in shares of HDFC Bank Limited (NYSE:HDB) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 385,235 shares of the bank’s stock after selling 48,280 shares during the quarter. Van ECK Associates Corp’s holdings in HDFC Bank were worth $25,853,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in HDFC Bank during the third quarter worth approximately $27,000. GAMMA Investing LLC bought a new stake in HDFC Bank during the fourth quarter worth approximately $33,000. NBC Securities Inc. bought a new stake in HDFC Bank during the third quarter worth approximately $29,000. Parkside Financial Bank & Trust increased its stake in HDFC Bank by 89.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after acquiring an additional 291 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake in HDFC Bank by 36.4% during the third quarter. FinTrust Capital Advisors LLC now owns 693 shares of the bank’s stock worth $41,000 after acquiring an additional 185 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd.

HDFC Bank Trading Down 1.3 %

HDB opened at $57.60 on Wednesday. The stock has a market cap of $107.12 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.09 and a beta of 0.87. The stock’s 50 day moving average price is $56.34 and its 200-day moving average price is $58.55. HDFC Bank Limited has a one year low of $52.16 and a one year high of $71.39. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.40.

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.