Letko Brosseau & Associates Inc. Boosts Holdings in HDFC Bank Limited $HDB

Letko Brosseau & Associates Inc. increased its holdings in HDFC Bank Limited (NYSE:HDB) by 35.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,035 shares of the bank’s stock after buying an additional 46,775 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in HDFC Bank were worth $6,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PineStone Asset Management Inc. boosted its holdings 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 worth $303,857,000 after buying an additional 151,992 shares during the last quarter. Jacobson & Schmitt Advisors LLC raised its stake in HDFC Bank by 97.7% during the 3rd 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 worth $4,206,000 after acquiring an additional 102,166 shares during the period. ABN Amro Investment Solutions raised its stake in HDFC Bank by 100.0% during the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after acquiring an additional 104,525 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in HDFC Bank by 102.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after acquiring an additional 1,199,084 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, HDFC Bank currently has an average rating of “Reduce”.

HDFC Bank Trading Up 1.1%

NYSE HDB opened at $23.26 on Wednesday. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.07 and a beta of 0.65. The company’s 50 day moving average is $25.05 and its two-hundred day moving average is $30.15.

Insider Buying and Selling

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the firm’s 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 owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the sale, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is owned by company insiders.

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).