Thornburg Investment Management Inc. Cuts Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Thornburg Investment Management Inc. reduced its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 81.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,418 shares of the bank's stock after selling 254,463 shares during the period. Thornburg Investment Management Inc.'s holdings in HDFC Bank were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new position in HDFC Bank in the fourth quarter valued at about $29,000. Graney & King LLC acquired a new position in shares of HDFC Bank in the fourth quarter valued at approximately $38,000. Brown Brothers Harriman & Co. raised its holdings in HDFC Bank by 63.7% in 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. Sierra Ocean LLC bought a new position in HDFC Bank in the 4th quarter valued at approximately $42,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in HDFC Bank during the 4th quarter worth approximately $56,000. 17.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Nomura upgraded shares of HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. 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 0.3%

Shares of NYSE HDB traded down $0.25 during midday trading on Thursday, hitting $72.68. 2,045,544 shares of the stock traded hands, compared to its average volume of 2,818,467. 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 Limited has a one year low of $55.00 and a one year high of $75.37. The business has a 50 day moving average price of $69.03 and a two-hundred day moving average price of $64.66. The company has a market cap of $184.05 billion, a PE ratio of 22.09, a P/E/G ratio of 2.12 and a beta of 0.63.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. On average, equities analysts predict that HDFC Bank Limited will post 3.03 EPS for the current 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.