Royal Bank of Canada Raises Stake in HDFC Bank Limited $HDB

Royal Bank of Canada raised its position in shares of HDFC Bank Limited (NYSE:HDB) by 31.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,897,767 shares of the bank’s stock after purchasing an additional 9,451,992 shares during the quarter. Royal Bank of Canada owned 0.78% of HDFC Bank worth $1,457,865,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HDB. Schroder Investment Management Group lifted its holdings 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 valued at $861,554,000 after purchasing an additional 14,606,422 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after buying an additional 9,808,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 valued at $271,381,000 after buying an additional 7,864,692 shares during the last quarter. Franklin Resources Inc. raised its position in shares of HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after buying an additional 7,147,440 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after buying an additional 6,386,002 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Insider Activity at HDFC Bank

In related 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 in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 31,600 shares of company stock worth $271,660. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Price Performance

HDFC Bank stock opened at $25.29 on Wednesday. The stock has a market cap of $129.00 billion, a P/E ratio of 15.14, a PEG ratio of 1.15 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. The firm’s 50 day moving average price is $25.00 and its 200-day moving average price is $29.72.

HDFC Bank Company 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).