Franklin Resources Inc. Has $485.80 Million Holdings in HDFC Bank Limited $HDB

Franklin Resources Inc. lessened its position in HDFC Bank Limited (NYSE:HDB) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,295,052 shares of the bank’s stock after selling 589,891 shares during the period. Franklin Resources Inc.’s holdings in HDFC Bank were worth $485,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of HDB. PineStone Asset Management Inc. boosted its position in shares of HDFC Bank by 1.9% in the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after acquiring an additional 151,992 shares during the period. Jacobson & Schmitt Advisors LLC increased its position in HDFC Bank by 97.7% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock worth $13,088,000 after acquiring an additional 189,303 shares during the period. M&T Bank Corp raised its stake in HDFC Bank by 788.3% during the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after purchasing an additional 102,166 shares during the last quarter. ABN Amro Investment Solutions boosted its holdings in HDFC Bank by 100.0% in the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock valued at $7,141,000 after purchasing an additional 104,525 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in HDFC Bank by 102.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock valued at $80,936,000 after purchasing an additional 1,199,084 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 1.6%

HDB opened at $23.04 on Tuesday. The stock’s 50 day simple moving average is $25.07 and its 200-day simple moving average is $30.25. The stock has a market cap of $117.51 billion, a PE ratio of 13.79, a P/E/G ratio of 1.08 and a beta of 0.65. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction 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 completion of the transaction, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,600 shares of company stock worth $271,660 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

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).