Rathbones Group PLC Boosts Stock Holdings in HDFC Bank Limited $HDB

Rathbones Group PLC boosted its position in HDFC Bank Limited (NYSE:HDB) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,585,814 shares of the bank’s stock after purchasing an additional 95,284 shares during the period. Rathbones Group PLC’s holdings in HDFC Bank were worth $94,486,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of HDB. Schroder Investment Management Group lifted its stake in 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 last quarter. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 9,808,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after acquiring an additional 7,864,692 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after acquiring an additional 7,147,440 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after acquiring an additional 6,386,002 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE:HDB opened at $24.61 on Thursday. The company has a market cap of $125.53 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.12 and a beta of 0.68. The stock’s fifty day moving average price is $25.88 and its two-hundred day moving average price is $31.38. HDFC Bank Limited has a 1 year low of $23.75 and a 1 year high of $39.81.

Insiders Place Their Bets

In related news, insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the sale, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares in the company, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,600 shares of company stock worth $271,660 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HDB shares. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently 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).