Northcape Capital Pty Ltd Raises Stock Position in HDFC Bank Limited $HDB

Northcape Capital Pty Ltd boosted its stake in HDFC Bank Limited (NYSE:HDB) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,695,395 shares of the bank’s stock after purchasing an additional 431,952 shares during the quarter. HDFC Bank comprises about 23.4% of Northcape Capital Pty Ltd’s holdings, making the stock its 3rd biggest position. Northcape Capital Pty Ltd owned 0.11% of HDFC Bank worth $208,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Schroder Investment Management Group boosted its position in shares of HDFC Bank by 137.6% during the 3rd quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after purchasing an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. increased its position in HDFC Bank by 104.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after buying an additional 9,808,890 shares in the last quarter. Franklin Resources Inc. raised its stake in HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after buying an additional 7,147,440 shares during the period. Wellington Management Group LLP raised its stake in HDFC Bank by 94.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after buying an additional 6,386,002 shares during the period. Finally, Invesco Ltd. boosted its holdings in HDFC Bank by 98.3% in the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after acquiring an additional 6,115,797 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HDB shares. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One equities 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 a consensus rating of “Reduce”.

HDFC Bank Stock Performance

Shares of HDB opened at $24.84 on Monday. The firm has a market capitalization of $126.72 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.89 and a beta of 0.67. HDFC Bank Limited has a 52 week low of $23.91 and a 52 week high of $39.81. The stock has a 50 day moving average price of $30.11 and a two-hundred day moving average price of $33.51.

Insider Transactions at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 648,422 shares of the company’s stock, valued at approximately $5,323,544.62. This represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

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).