Allianz Asset Management GmbH Sells 74,710 Shares of HDFC Bank Limited (NYSE:HDB)

Allianz Asset Management GmbH decreased its holdings in HDFC Bank Limited (NYSE:HDB) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,034,746 shares of the bank’s stock after selling 74,710 shares during the quarter. Allianz Asset Management GmbH’s holdings in HDFC Bank were worth $66,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HDB. Sequoia Financial Advisors LLC purchased a new stake in HDFC Bank in the 3rd quarter valued at about $1,049,000. Private Advisor Group LLC increased its stake in HDFC Bank by 22.8% in the 3rd quarter. Private Advisor Group LLC now owns 9,550 shares of the bank’s stock valued at $597,000 after buying an additional 1,773 shares during the last quarter. Greenleaf Trust purchased a new stake in HDFC Bank in the 3rd quarter valued at about $686,000. International Assets Investment Management LLC purchased a new stake in HDFC Bank in the 3rd quarter valued at about $27,630,000. Finally, Mount Yale Investment Advisors LLC increased its stake in HDFC Bank by 4.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.2 %

NYSE:HDB opened at $59.46 on Friday. 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 stock has a market capitalization of $150.56 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The firm’s 50 day moving average is $61.36 and its 200 day moving average is $62.42. HDFC Bank Limited has a 12 month low of $53.00 and a 12 month high of $68.50.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Sell-side analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on HDB. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

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.