Allspring Global Investments Holdings LLC Decreases Stock Position in HDFC Bank Limited (NYSE:HDB)

Allspring Global Investments Holdings LLC lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,270,622 shares of the bank’s stock after selling 133,370 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of HDFC Bank worth $145,456,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HDB. Schwartz Investment Counsel Inc. grew its holdings in HDFC Bank by 3.9% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 50,050 shares of the bank’s stock valued at $3,196,000 after purchasing an additional 1,900 shares in the last quarter. Portfolio Design Labs LLC purchased a new position in HDFC Bank in the 4th quarter valued at about $260,000. Aubrey Capital Management Ltd grew its stake in shares of HDFC Bank by 29.6% during the fourth quarter. Aubrey Capital Management Ltd now owns 15,910 shares of the bank’s stock valued at $1,016,000 after acquiring an additional 3,632 shares in the last quarter. Coronation Fund Managers Ltd. increased its position in shares of HDFC Bank by 1.5% during the fourth quarter. Coronation Fund Managers Ltd. now owns 221,129 shares of the bank’s stock worth $14,121,000 after acquiring an additional 3,291 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of HDFC Bank by 13.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 97,086 shares of the bank’s stock worth $6,200,000 after acquiring an additional 11,255 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of analyst reports. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of HDB opened at $60.68 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The firm has a market cap of $153.65 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.70 and a beta of 0.91. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $68.50. The stock has a 50 day moving average of $62.64 and a 200-day moving average of $62.41.

HDFC Bank (NYSE:HDB) last released its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, analysts forecast that HDFC Bank Limited will post 3.09 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.