Dundas Partners LLP Grows Stake in HDFC Bank Limited $HDB

Dundas Partners LLP increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 94.9% in the 3rd quarter, Holdings Channel reports. The firm owned 864,132 shares of the bank’s stock after purchasing an additional 420,727 shares during the period. HDFC Bank accounts for 2.1% of Dundas Partners LLP’s investment portfolio, making the stock its 24th largest holding. Dundas Partners LLP’s holdings in HDFC Bank were worth $29,519,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HDB. Insigneo Advisory Services LLC increased its stake in HDFC Bank by 4.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock worth $249,000 after buying an additional 152 shares in the last quarter. Huntington National Bank lifted its position in shares of HDFC Bank by 13.3% in the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after acquiring an additional 158 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of HDFC Bank by 3.0% in the second quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank’s stock worth $589,000 after acquiring an additional 223 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of HDFC Bank by 12.0% during the second quarter. First Horizon Advisors Inc. now owns 2,548 shares of the bank’s stock worth $195,000 after purchasing an additional 273 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its position in shares of HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock worth $438,000 after purchasing an additional 311 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HDB has been the topic of a number of research reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $29.50 on Monday. The stock’s 50 day simple moving average is $33.04 and its 200-day simple moving average is $34.81. The stock has a market cap of $150.49 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 1-year low of $29.23 and a 1-year 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).