Fiera Capital Corp Reduces Stake in HDFC Bank Limited (NYSE:HDB)

Fiera Capital Corp trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,789,416 shares of the bank’s stock after selling 655,148 shares during the quarter. HDFC Bank accounts for approximately 1.1% of Fiera Capital Corp’s investment portfolio, making the stock its 28th biggest holding. Fiera Capital Corp’s holdings in HDFC Bank were worth $362,186,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in HDFC Bank in the 2nd quarter valued at $36,000. Northwest Investment Counselors LLC purchased a new stake in shares of HDFC Bank in the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC grew its holdings in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after purchasing an additional 275 shares during the period. LRI Investments LLC acquired a new position in HDFC Bank in the first quarter valued at about $56,000. Finally, GAMMA Investing LLC lifted its holdings in shares of HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE:HDB traded up $0.35 during trading on Friday, hitting $64.10. 322,733 shares of the stock were exchanged, compared to its average volume of 2,990,871. The company has a market cap of $162.32 billion, a PE ratio of 19.47, a P/E/G ratio of 1.64 and a beta of 0.91. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44. The company has a fifty day moving average price of $62.61 and a two-hundred day moving average price of $60.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Wall Street Analyst Weigh In

Several research firms have recently commented on HDB. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

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.