Chesapeake Capital Corp IL Purchases Shares of 19,782 HDFC Bank Limited $HDB

Chesapeake Capital Corp IL acquired a new position in shares of HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,782 shares of the bank’s stock, valued at approximately $676,000.

Other large investors also recently made changes to their positions in the company. Schroder Investment Management Group boosted its position in HDFC Bank by 137.6% during the 3rd 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. raised 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 valued at $656,035,000 after purchasing an additional 9,808,890 shares during the period. Franklin Resources Inc. lifted its stake in shares of HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after purchasing an additional 7,147,440 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after purchasing an additional 6,963,646 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of HDFC Bank by 98.3% in the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after buying an additional 6,115,797 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note 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, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

HDFC Bank Trading Down 0.5%

HDB opened at $28.25 on Friday. HDFC Bank Limited has a twelve month low of $28.05 and a twelve month high of $39.81. The firm has a market cap of $144.11 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.18 and a beta of 0.56. The company has a fifty day simple moving average of $32.28 and a 200 day simple moving average of $34.56.

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).