Citigroup Inc. Acquires 793,036 Shares of HDFC Bank Limited $HDB

Citigroup Inc. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 75.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,841,376 shares of the bank’s stock after acquiring an additional 793,036 shares during the quarter. Citigroup Inc.’s holdings in HDFC Bank were worth $62,901,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position 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 purchasing an additional 9,808,890 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in 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 valued at $396,312,000 after buying an additional 6,963,646 shares during the period. Schroder Investment Management Group grew its stake in shares of HDFC Bank by 19.0% during the second quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank’s stock valued at $813,830,000 after buying an additional 1,692,243 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of HDFC Bank by 89.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after buying an additional 4,810,042 shares during the period. Finally, C WorldWide Group Holding A S lifted its stake in shares of HDFC Bank by 133.0% in 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 acquiring an additional 5,345,005 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the topic of several recent research reports. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

HDFC Bank Stock Down 1.2%

NYSE:HDB opened at $32.70 on Tuesday. The firm’s fifty day simple moving average is $33.88 and its 200 day simple moving average is $35.19. The stock has a market cap of $166.80 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.38 and a beta of 0.57. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81.

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).