Thornburg Investment Management Inc. Lowers Position in HDFC Bank Limited (NYSE:HDB)

Thornburg Investment Management Inc. lowered its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 26.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,353 shares of the bank's stock after selling 15,065 shares during the period. Thornburg Investment Management Inc.'s holdings in HDFC Bank were worth $2,814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HDB. Larson Financial Group LLC lifted its position in HDFC Bank by 1,217.1% in the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank's stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake 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 acquiring an additional 240 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of HDFC Bank by 448.7% during the first 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 period. NBC Securities Inc. purchased a new position in shares of HDFC Bank during the first quarter worth about $55,000. Finally, Pinnacle Bancorp Inc. boosted its stake in HDFC Bank by 109.7% in the first quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank's stock worth $56,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th.

HDFC Bank Price Performance

Shares of NYSE:HDB traded up $0.23 during midday trading on Friday, hitting $77.00. The company had a trading volume of 861,192 shares, compared to its average volume of 2,648,620. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $79.61. The company has a market cap of $194.99 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.91 and a beta of 0.64. The company has a fifty day moving average of $75.92 and a two-hundred day moving average of $68.69.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. The firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.03 billion. Research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Company 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.