Barings LLC Has $24.95 Million Stock Holdings in HDFC Bank Limited $HDB

Barings LLC increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 682,813 shares of the bank’s stock after buying an additional 86,955 shares during the quarter. Barings LLC’s holdings in HDFC Bank were worth $24,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HDB. Schroder Investment Management Group lifted its stake in 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 period. JPMorgan Chase & Co. lifted its stake in HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after purchasing an additional 9,808,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after purchasing an additional 7,864,692 shares during the period. Franklin Resources Inc. lifted its stake in 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 during the period. Finally, Wellington Management Group LLP lifted its stake in HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after purchasing an additional 6,386,002 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 2.6%

NYSE:HDB opened at $23.81 on Friday. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81. The firm has a 50 day moving average of $25.01 and a 200-day moving average of $29.97. The stock has a market capitalization of $121.48 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.07 and a beta of 0.65.

Insider Buying and Selling

In other news, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,600 shares of company stock valued at $271,660 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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