HDFC Bank Limited $HDB Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 27.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,455 shares of the bank's stock after selling 77,092 shares during the quarter. Allianz Asset Management GmbH's holdings in HDFC Bank were worth $15,906,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of HDFC Bank by 6.8% in the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after acquiring an additional 153 shares during the period. DMC Group LLC boosted its holdings in shares of HDFC Bank by 2.5% in the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after acquiring an additional 181 shares during the period. Platform Technology Partners boosted its holdings in shares of HDFC Bank by 2.7% in the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock valued at $508,000 after acquiring an additional 201 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of HDFC Bank by 0.9% in the second quarter. Naples Global Advisors LLC now owns 29,154 shares of the bank's stock valued at $2,235,000 after acquiring an additional 265 shares during the period. Finally, Ieq Capital LLC boosted its holdings in shares of HDFC Bank by 7.1% in the first quarter. Ieq Capital LLC now owns 4,456 shares of the bank's stock valued at $296,000 after acquiring an additional 294 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HDB has been the subject of several research analyst reports. Zacks Research raised HDFC Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, HDFC Bank presently has an average rating of "Moderate Buy".

HDFC Bank Stock Performance

NYSE:HDB opened at $36.55 on Tuesday. The stock has a fifty day moving average price of $35.55 and a two-hundred day moving average price of $36.46. The stock has a market capitalization of $186.47 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.95 and a beta of 0.63. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, July 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. On average, analysts predict that HDFC Bank Limited will post 3.03 EPS 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.

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