Thornburg Investment Management Inc. Has $2.81 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Thornburg Investment Management Inc. lessened its holdings in HDFC Bank Limited (NYSE:HDB) by 26.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 42,353 shares of the bank’s stock after selling 15,065 shares during the quarter. Thornburg Investment Management Inc.’s holdings in HDFC Bank were worth $2,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Banque Cantonale Vaudoise acquired a new stake in HDFC Bank during the first quarter valued at $2,634,000. LPL Financial LLC boosted its position in HDFC Bank by 20.9% during the first quarter. LPL Financial LLC now owns 139,961 shares of the bank’s stock valued at $9,299,000 after purchasing an additional 24,185 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in HDFC Bank during the first quarter valued at $361,000. FourThought Financial Partners LLC boosted its position in HDFC Bank by 9.2% during the first quarter. FourThought Financial Partners LLC now owns 9,946 shares of the bank’s stock valued at $661,000 after purchasing an additional 841 shares during the last quarter. Finally, HB Wealth Management LLC boosted its position in HDFC Bank by 110.5% during the first quarter. HB Wealth Management LLC now owns 7,680 shares of the bank’s stock valued at $510,000 after purchasing an additional 4,031 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $77.43 on Wednesday. HDFC Bank Limited has a fifty-two week low of $57.24 and a fifty-two week high of $79.61. The business has a 50-day moving average of $75.77 and a two-hundred day moving average of $68.50. The stock has a market capitalization of $196.06 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.91 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. As a group, research analysts expect 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.