Two Creeks Capital Management LP Raises Holdings in HDFC Bank Limited $HDB

Two Creeks Capital Management LP increased its holdings in HDFC Bank Limited (NYSE:HDB) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 736,895 shares of the bank’s stock after buying an additional 70,925 shares during the period. HDFC Bank accounts for 1.8% of Two Creeks Capital Management LP’s investment portfolio, making the stock its 22nd biggest position. Two Creeks Capital Management LP’s holdings in HDFC Bank were worth $25,172,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Schroder Investment Management Group increased its holdings in shares of HDFC Bank by 137.6% in the third 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 during the period. JPMorgan Chase & Co. lifted its stake in HDFC Bank by 104.4% in the third 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 during the last quarter. Franklin Resources Inc. boosted its holdings in HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after acquiring an additional 7,147,440 shares during the period. Invesco Ltd. boosted its stake in shares of HDFC Bank by 98.3% during the third 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 during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings 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 acquiring an additional 6,963,646 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the subject of several research reports. Weiss Ratings lowered 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 HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

HDFC Bank Price Performance

HDB opened at $28.25 on Friday. The firm has a market cap of $144.11 billion, a P/E ratio of 16.97, a PEG ratio of 1.18 and a beta of 0.56. The company has a 50 day simple moving average of $32.28 and a two-hundred day simple moving average of $34.56. HDFC Bank Limited has a 1-year low of $28.05 and a 1-year high of $39.81.

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).