HDFC Bank Limited (NYSE:HDB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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’s holdings in HDFC Bank were worth $145,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. raised its position in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after acquiring an additional 254 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in HDFC Bank during the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC increased its stake in shares of HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in HDFC Bank in the 3rd quarter worth about $65,000. Finally, GAMMA Investing LLC increased its holdings in HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after buying an additional 312 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Up 0.2 %

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

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. As a group, equities research analysts anticipate that HDFC Bank Limited will post 3.09 EPS for the current year.

Analysts Set New Price Targets

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

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.