Causeway Capital Management LLC Purchases 197,597 Shares of HDFC Bank Limited $HDB

Causeway Capital Management LLC grew its position in HDFC Bank Limited (NYSE:HDB) by 105.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,186 shares of the bank’s stock after purchasing an additional 197,597 shares during the quarter. Causeway Capital Management LLC’s holdings in HDFC Bank were worth $13,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HDB. Schroder Investment Management Group increased its position in HDFC Bank by 137.6% during the 3rd 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. grew its stake in shares of HDFC Bank by 104.4% during the third 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 during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of HDFC Bank by 150.1% during the third 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 in the last quarter. C WorldWide Group Holding A S raised its position in shares of HDFC Bank by 133.0% in 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake 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 worth $348,741,000 after purchasing an additional 4,810,042 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HDB. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note 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 stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $29.75 on Tuesday. HDFC Bank Limited has a 1 year low of $28.65 and a 1 year high of $39.81. The stock has a market cap of $151.76 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The firm has a fifty day moving average price of $32.90 and a 200 day moving average price of $34.76.

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).