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

Allianz Asset Management GmbH decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trinity Street Asset Management LLP grew its position in shares of HDFC Bank by 7.4% during the 4th quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock valued at $234,641,000 after purchasing an additional 252,600 shares in the last quarter. Citigroup Inc. grew its position in shares of HDFC Bank by 21.1% during the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after purchasing an additional 199,582 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of HDFC Bank by 60.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock valued at $19,830,000 after purchasing an additional 119,050 shares in the last quarter. Zurich Insurance Group Ltd FI grew its position in shares of HDFC Bank by 34.7% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock valued at $8,572,000 after purchasing an additional 35,291 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of HDFC Bank by 13.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after purchasing an additional 28,500 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Down 0.2 %

Shares of NYSE:HDB opened at $59.46 on Friday. HDFC Bank Limited has a 52-week low of $53.00 and a 52-week high of $68.50. The firm has a fifty day moving average of $61.36 and a 200 day moving average of $62.42. The firm 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 company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

HDFC Bank (NYSE:HDB) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping 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, research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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.