HDFC Bank Limited $HDB is Altrinsic Global Advisors LLC’s 6th Largest Position

Altrinsic Global Advisors LLC increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 100.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,335,771 shares of the bank’s stock after acquiring an additional 2,677,366 shares during the period. HDFC Bank makes up 6.7% of Altrinsic Global Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Altrinsic Global Advisors LLC owned about 0.10% of HDFC Bank worth $182,270,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HDB. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One equities research 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, the stock presently has an average rating of “Reduce”.

HDFC Bank Price Performance

Shares of HDB stock opened at $28.25 on Friday. The company has a market cap of $144.11 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.17 and a beta of 0.56. HDFC Bank Limited has a 1 year low of $28.05 and a 1 year high of $39.81. The firm has a fifty day moving average price of $32.28 and a 200-day moving average price of $34.55.

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).