Franklin Resources Inc. Raises Stock Holdings in HDFC Bank Limited $HDB

Franklin Resources Inc. boosted its position in shares of HDFC Bank Limited (NYSE:HDB) by 106.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 13,884,943 shares of the bank’s stock after acquiring an additional 7,147,440 shares during the quarter. Franklin Resources Inc. owned about 0.27% of HDFC Bank worth $474,310,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HDB. Schroder Investment Management Group increased its holdings in shares of HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock valued at $861,554,000 after purchasing an additional 14,606,422 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after purchasing an additional 9,808,890 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in HDFC Bank by 150.1% in 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 buying an additional 6,963,646 shares during the last quarter. C WorldWide Group Holding A S boosted its position in HDFC Bank by 133.0% in 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 buying an additional 5,345,005 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in HDFC Bank by 89.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after buying an additional 4,810,042 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of recent research reports. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

HDFC Bank Stock Performance

HDB opened at $28.47 on Thursday. The company has a fifty day moving average of $32.60 and a two-hundred day moving average of $34.66. The stock has a market capitalization of $145.22 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a fifty-two week low of $28.32 and a fifty-two week high of $39.81.

HDFC Bank 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).