Assenagon Asset Management S.A. Trims Stock Position in HDFC Bank Limited (NYSE:HDB)

Assenagon Asset Management S.A. decreased its stake in HDFC Bank Limited (NYSE:HDB) by 89.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,493 shares of the bank’s stock after selling 53,079 shares during the quarter. Assenagon Asset Management S.A.’s holdings in HDFC Bank were worth $406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in HDFC Bank in the 2nd quarter worth approximately $166,709,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in HDFC Bank by 580.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock worth $45,079,000 after buying an additional 686,789 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in HDFC Bank by 56.3% during the second quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock valued at $8,981,000 after buying an additional 50,301 shares during the period. Norden Group LLC purchased a new position in HDFC Bank in the first quarter valued at $511,000. Finally, LRI Investments LLC acquired a new position in shares of HDFC Bank in the first quarter worth about $125,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $63.20 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $160.04 billion, a PE ratio of 19.21, a PEG ratio of 1.65 and a beta of 0.91. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The firm has a fifty day moving average of $62.46 and a 200 day moving average of $60.66.

Analyst Upgrades and Downgrades

HDB has been the subject of several recent analyst reports. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

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.