Trinity Street Asset Management LLP Has $221.69 Million Stock Holdings in HDFC Bank Limited $HDB

Trinity Street Asset Management LLP reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,067,000 shares of the bank’s stock after selling 66,600 shares during the quarter. HDFC Bank comprises 13.9% of Trinity Street Asset Management LLP’s portfolio, making the stock its 3rd largest holding. Trinity Street Asset Management LLP’s holdings in HDFC Bank were worth $221,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its position in shares of 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 acquiring an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of HDFC Bank by 104.4% during the 3rd 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 last quarter. Franklin Resources Inc. lifted its position in shares of 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 last quarter. Wellington Management Group LLP lifted its position in shares of 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 acquiring an additional 6,386,002 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of 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 acquiring an additional 6,115,797 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HDB. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Insider Activity

In other news, insider N Srinivasan sold 10,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $8.21, for a total value of $82,100.00. Following the completion of the sale, the insider owned 648,422 shares in the company, valued at $5,323,544.62. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

HDFC Bank Stock Up 6.1%

HDB opened at $27.07 on Thursday. The stock has a fifty day moving average of $29.74 and a 200-day moving average of $33.33. The firm has a market capitalization of $138.11 billion, a P/E ratio of 16.26, a PEG ratio of 0.89 and a beta of 0.67. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month 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).