Causeway Capital Management LLC Increases Position in HDFC Bank Limited $HDB

Causeway Capital Management LLC lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 105.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 385,186 shares of the bank’s stock after buying 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 quarter.

A number of other large investors also recently bought and sold shares of the business. Schroder Investment Management Group lifted its position in shares of HDFC Bank by 137.6% during 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 last quarter. JPMorgan Chase & Co. increased its stake in HDFC Bank by 104.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after buying an additional 9,808,890 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in HDFC Bank by 150.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after buying an additional 6,963,646 shares in the last quarter. C WorldWide Group Holding A S lifted its holdings in HDFC Bank by 133.0% during 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 buying an additional 5,345,005 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 valued at $348,741,000 after buying an additional 4,810,042 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

HDB has been the topic of a number of research reports. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

HDFC Bank Stock Performance

NYSE HDB opened at $29.75 on Tuesday. The company has a market cap of $151.76 billion, a PE ratio of 17.87, a P/E/G ratio of 1.23 and a beta of 0.56. The firm’s 50 day moving average price is $32.90 and its 200-day moving average price is $34.76. HDFC Bank Limited has a 52-week low of $28.65 and a 52-week 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).