Fisher Asset Management LLC Grows Stake in HDFC Bank Limited $HDB

Fisher Asset Management LLC increased its stake in HDFC Bank Limited (NYSE:HDB) by 29.2% in the 4th quarter, HoldingsChannel reports. The fund owned 11,850,762 shares of the bank’s stock after acquiring an additional 2,678,068 shares during the period. Fisher Asset Management LLC’s holdings in HDFC Bank were worth $433,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HDB. Schroder Investment Management Group grew its position in 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 acquiring an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 acquiring an additional 9,808,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in HDFC Bank by 9,866.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after acquiring an additional 7,864,692 shares in the last quarter. Franklin Resources Inc. grew its position in HDFC Bank by 106.1% in the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after acquiring an additional 7,147,440 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after acquiring an additional 6,386,002 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $24.75 on Monday. The company has a market cap of $126.24 billion, a P/E ratio of 14.82, a PEG ratio of 1.15 and a beta of 0.68. HDFC Bank Limited has a 1 year low of $23.75 and a 1 year high of $39.81. The firm has a 50-day simple moving average of $25.71 and a two-hundred day simple moving average of $31.22.

Insider Activity

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the sale, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. 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, HDFC Bank 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).