Rathbones Group PLC Purchases 2,200,328 Shares of HDFC Bank Limited $HDB

Rathbones Group PLC increased its position in HDFC Bank Limited (NYSE:HDB) by 758.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,490,530 shares of the bank’s stock after buying an additional 2,200,328 shares during the quarter. Rathbones Group PLC’s holdings in HDFC Bank were worth $85,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HDB. JPMorgan Chase & Co. grew its holdings in HDFC Bank by 104.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after acquiring an additional 9,808,890 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after acquiring an additional 6,963,646 shares during the last quarter. C WorldWide Group Holding A S raised its stake in shares of HDFC Bank by 133.0% during the third quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock valued at $319,834,000 after acquiring an additional 5,345,005 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of HDFC Bank by 89.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after purchasing an additional 4,810,042 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of HDFC Bank by 102.2% in the third quarter. Fisher Asset Management LLC now owns 9,172,694 shares of the bank’s stock worth $313,339,000 after purchasing an additional 4,635,870 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 2.9%

NYSE:HDB opened at $29.50 on Friday. The company has a 50-day moving average price of $33.04 and a 200-day moving average price of $34.83. The stock has a market cap of $150.49 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 12 month low of $29.23 and a 12 month high of $39.81.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HDB. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).