Schroder Investment Management Group Acquires 14,606,422 Shares of HDFC Bank Limited $HDB

Schroder Investment Management Group grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 137.6% in the third quarter, HoldingsChannel.com reports. The fund owned 25,221,130 shares of the bank’s stock after purchasing an additional 14,606,422 shares during the period. HDFC Bank accounts for about 0.7% of Schroder Investment Management Group’s investment portfolio, making the stock its 24th largest holding. Schroder Investment Management Group’s holdings in HDFC Bank were worth $861,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after buying an additional 13,435 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares during the last quarter. Assetmark Inc. grew its position in HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after acquiring an additional 552 shares in the last quarter. Finally, Bank of Montreal Can grew its position in HDFC Bank by 3.5% in the second quarter. Bank of Montreal Can now owns 84,920 shares of the bank’s stock worth $6,511,000 after acquiring an additional 2,865 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDB stock opened at $29.50 on Monday. The firm has a market cap of $150.49 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.23 and a beta of 0.56. The firm’s fifty day moving average is $33.04 and its 200 day moving average is $34.81. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81.

Analyst Ratings Changes

A number of research firms have weighed in on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

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).