Allspring Global Investments Holdings LLC Sells 502,558 Shares of HDFC Bank Limited (NYSE:HDB)

Allspring Global Investments Holdings LLC decreased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 22.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,768,064 shares of the bank's stock after selling 502,558 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of HDFC Bank worth $115,366,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of HDFC Bank by 52.0% during the 4th quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock worth $64,855,000 after purchasing an additional 347,488 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of HDFC Bank during the 4th quarter worth approximately $580,000. US Bancorp DE raised its stake in shares of HDFC Bank by 12.7% during the 4th quarter. US Bancorp DE now owns 157,665 shares of the bank's stock worth $10,068,000 after purchasing an additional 17,800 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of HDFC Bank during the 4th quarter worth approximately $2,907,000. Finally, Ovata Capital Management Ltd raised its stake in shares of HDFC Bank by 89.7% during the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after purchasing an additional 326,400 shares in the last quarter. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Up 0.2%

HDB opened at $77.08 on Friday. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $78.14. The stock's fifty day simple moving average is $73.99 and its 200 day simple moving average is $66.55. The company has a current ratio of 0.07, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a market cap of $195.18 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $434.68 billion. As a group, research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th.

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.

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