Citigroup Inc. Raises Stake in HDFC Bank Limited $HDB

Citigroup Inc. boosted its stake in HDFC Bank Limited (NYSE:HDB) by 75.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,841,376 shares of the bank’s stock after purchasing an additional 793,036 shares during the quarter. Citigroup Inc.’s holdings in HDFC Bank were worth $62,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after acquiring an additional 9,808,890 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in HDFC Bank by 150.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after purchasing an additional 6,963,646 shares in the last quarter. Schroder Investment Management Group boosted its holdings in HDFC Bank by 19.0% in the 2nd quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock valued at $813,830,000 after purchasing an additional 1,692,243 shares during the period. Massachusetts Financial Services Co. MA boosted 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 valued at $348,741,000 after purchasing an additional 4,810,042 shares during the period. Finally, C WorldWide Group Holding A S grew its position in shares of HDFC Bank by 133.0% during the 3rd quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock valued at $319,834,000 after purchasing an additional 5,345,005 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $32.70 on Tuesday. The firm has a market capitalization of $166.80 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 1.38 and a beta of 0.57. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The firm has a fifty day moving average of $33.88 and a 200 day moving average of $35.19.

About HDFC Bank

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).