Dundas Partners LLP Raises Stock Position in HDFC Bank Limited $HDB

Dundas Partners LLP boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 94.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 864,132 shares of the bank’s stock after purchasing an additional 420,727 shares during the period. HDFC Bank comprises approximately 2.1% of Dundas Partners LLP’s investment portfolio, making the stock its 24th biggest holding. Dundas Partners LLP’s holdings in HDFC Bank were worth $29,519,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division raised its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after buying an additional 379 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after buying an additional 322 shares during the last quarter. Accent Capital Management LLC boosted its stake in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after buying an additional 459 shares during the last quarter. Clearstead Advisors LLC grew its holdings in HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after acquiring an additional 739 shares during the period. Finally, J.Safra Asset Management Corp raised its position in HDFC Bank by 100.0% during the third quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after acquiring an additional 510 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Trading Down 2.9%

NYSE HDB opened at $29.50 on Monday. The stock has a market capitalization of $150.49 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.23 and a beta of 0.56. The stock has a 50-day moving average of $33.04 and a 200 day moving average of $34.81. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81.

Wall Street Analyst Weigh In

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

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).