Trinity Street Asset Management LLP Purchases 1,657,700 Shares of HDFC Bank Limited $HDB

Trinity Street Asset Management LLP grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,724,700 shares of the bank’s stock after buying an additional 1,657,700 shares during the quarter. HDFC Bank makes up about 13.2% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 4th largest holding. Trinity Street Asset Management LLP owned approximately 0.15% of HDFC Bank worth $192,191,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. PineStone Asset Management Inc. raised its holdings in shares of HDFC Bank by 1.9% during the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after purchasing an additional 151,992 shares in the last quarter. M&T Bank Corp lifted its stake in shares of HDFC Bank by 788.3% in the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after purchasing an additional 102,166 shares during the last quarter. Matthews International Capital Management LLC boosted its holdings in HDFC Bank by 58.3% in the fourth quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock worth $12,567,000 after purchasing an additional 126,650 shares in the last quarter. Boston Common Asset Management LLC increased its position in HDFC Bank by 80.9% during the fourth quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock worth $56,181,000 after buying an additional 687,812 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after buying an additional 14,606,422 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the sale, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,600 shares of company stock valued at $189,560 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

HDB has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

HDFC Bank Trading Down 0.2%

NYSE HDB opened at $25.85 on Wednesday. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81. The company has a fifty day simple moving average of $24.74 and a 200 day simple moving average of $28.98. The company has a market cap of $131.86 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.20 and a beta of 0.65.

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).