Canoe Financial LP Has $21.43 Million Stock Position in HDFC Bank Limited $HDB

Canoe Financial LP lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 586,480 shares of the bank’s stock after selling 49,700 shares during the quarter. Canoe Financial LP’s holdings in HDFC Bank were worth $21,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Schroder Investment Management Group raised its holdings 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 valued at $861,554,000 after buying an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of HDFC Bank by 104.4% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of HDFC Bank by 9,866.5% during the 3rd 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. increased its holdings in shares of HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after acquiring an additional 7,147,440 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of HDFC Bank by 150.1% during the 3rd 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. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, HDFC Bank presently has a consensus rating of “Reduce”.

HDFC Bank Price Performance

HDFC Bank stock opened at $24.35 on Friday. HDFC Bank Limited has a fifty-two week low of $24.30 and a fifty-two week high of $39.81. The firm has a fifty day moving average price of $30.87 and a two-hundred day moving average price of $33.90. The firm has a market cap of $124.20 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.01 and a beta of 0.56.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $8.21, for a total value of $82,100.00. Following the transaction, the insider directly owned 648,422 shares of the company’s stock, valued at $5,323,544.62. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

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).