Thornburg Investment Management Inc. Sells 254,463 Shares of HDFC Bank Limited (NYSE:HDB)

Thornburg Investment Management Inc. cut its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 81.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,418 shares of the bank's stock after selling 254,463 shares during the quarter. Thornburg Investment Management Inc.'s holdings in HDFC Bank were worth $3,667,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Steadfast Capital Management LP purchased a new position in shares of HDFC Bank in the fourth quarter valued at $11,763,000. Silvercrest Asset Management Group LLC purchased a new position in shares of HDFC Bank in the fourth quarter valued at $13,316,000. Royal Bank of Canada grew its position in shares of HDFC Bank by 43.0% in the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after purchasing an additional 2,196,315 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of HDFC Bank in the fourth quarter valued at $10,214,000. Finally, Quantinno Capital Management LP grew its position in shares of HDFC Bank by 71.4% in the fourth quarter. Quantinno Capital Management LP now owns 35,972 shares of the bank's stock valued at $2,297,000 after purchasing an additional 14,982 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Performance

Shares of NYSE HDB traded up $1.25 during mid-day trading on Friday, hitting $73.97. The company had a trading volume of 3,094,533 shares, compared to its average volume of 2,830,184. The company has a market capitalization of $187.31 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.12 and a beta of 0.63. HDFC Bank Limited has a 1 year low of $55.00 and a 1 year high of $75.37. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock's 50-day moving average price is $69.49 and its 200-day moving average price is $64.80.

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