Madison Asset Management LLC Has $3.97 Million Stock Position in HDFC Bank Limited (NYSE:HDB)

Madison Asset Management LLC decreased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 20.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,818 shares of the bank's stock after selling 15,523 shares during the quarter. Madison Asset Management LLC's holdings in HDFC Bank were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of HDB. Larson Financial Group LLC boosted its stake in shares of HDFC Bank by 1,217.1% during the 1st 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 last quarter. Graney & King LLC purchased a new position in shares of HDFC Bank during the 4th quarter valued at approximately $38,000. Brown Brothers Harriman & Co. boosted its stake in shares of HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after buying an additional 240 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of HDFC Bank by 448.7% during the 1st 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 position in shares of HDFC Bank during the 1st quarter valued at approximately $55,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Stock Down 0.2%

HDB stock traded down $0.14 during mid-day trading on Friday, reaching $77.86. The company had a trading volume of 1,340,327 shares, compared to its average volume of 1,823,866. The stock has a market capitalization of $197.18 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.94 and a beta of 0.64. HDFC Bank Limited has a one year low of $57.24 and a one year high of $79.61. The stock's 50-day simple moving average is $75.62 and its two-hundred day simple moving average is $68.21.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. On average, research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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.