Allianz Asset Management GmbH Cuts Position in HDFC Bank Limited $HDB

Allianz Asset Management GmbH decreased its holdings in HDFC Bank Limited (NYSE:HDB) by 27.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 207,455 shares of the bank’s stock after selling 77,092 shares during the quarter. Allianz Asset Management GmbH’s holdings in HDFC Bank were worth $15,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ritholtz Wealth Management increased its position in shares of HDFC Bank by 65.8% in the second quarter. Ritholtz Wealth Management now owns 12,785 shares of the bank’s stock valued at $980,000 after buying an additional 5,075 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of HDFC Bank by 0.5% in the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 243,641 shares of the bank’s stock valued at $18,675,000 after buying an additional 1,279 shares in the last quarter. Courier Capital LLC purchased a new position in shares of HDFC Bank in the second quarter valued at $205,000. Sagespring Wealth Partners LLC increased its position in shares of HDFC Bank by 78.7% in the second quarter. Sagespring Wealth Partners LLC now owns 9,798 shares of the bank’s stock valued at $751,000 after buying an additional 4,314 shares in the last quarter. Finally, Naviter Wealth LLC increased its position in shares of HDFC Bank by 5.0% in the second quarter. Naviter Wealth LLC now owns 40,339 shares of the bank’s stock valued at $3,093,000 after buying an additional 1,929 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.5%

HDFC Bank stock opened at $36.55 on Tuesday. The stock has a market cap of $186.47 billion, a PE ratio of 22.42, a P/E/G ratio of 1.95 and a beta of 0.63. The stock has a 50-day moving average price of $35.55 and a 200 day moving average price of $36.46. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, HDFC Bank currently has an average rating of “Moderate Buy”.

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.