Allianz Asset Management GmbH Reduces Stock Position in HDFC Bank Limited (NYSE:HDB)

Allianz Asset Management GmbH trimmed its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 72.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,547 shares of the bank's stock after selling 750,199 shares during the period. Allianz Asset Management GmbH's holdings in HDFC Bank were worth $18,905,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HDB. Larson Financial Group LLC boosted its position in HDFC Bank by 1,217.1% during the first quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after buying an additional 426 shares during the period. Graney & King LLC bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $38,000. Brown Brothers Harriman & Co. increased its stake in shares of HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after purchasing an additional 240 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank's stock valued at $41,000 after buying an additional 507 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of HDFC Bank during the first quarter valued at approximately $55,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday.

HDFC Bank Trading Down 0.2%

HDB stock traded down $0.14 on Friday, hitting $77.86. The company had a trading volume of 1,340,327 shares, compared to its average volume of 1,823,866. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $79.61. The stock's 50-day simple moving average is $75.62 and its 200 day simple moving average is $68.21. The stock has a market cap of $197.18 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.94 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. Research analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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.