BNP Paribas Boosts Stock Position in HDFC Bank Limited $HDB

Key Points

• BNP Paribas increased its stake in HDFC Bank by 109.3% in Q3, buying an additional 170,624 shares to hold 326,704 shares worth about $11.16 million at period end.
• Several large managers also made big buys — Schroder now owns 25.22 million shares and JPMorgan 19.20 million, while UBS, Franklin and Robeco each added multi‑million share positions — leaving institutional ownership at roughly 17.61%.
• Analyst sentiment is cautious: HDFC Bank has a MarketBeat consensus rating of "Reduce", with recent moves including a Weiss Ratings downgrade to Sell and a Wall Street Zen upgrade from Sell to Hold.

BNP Paribas lifted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 109.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,704 shares of the bank's stock after acquiring an additional 170,624 shares during the period. BNP Paribas' holdings in HDFC Bank were worth $11,160,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Schroder Investment Management Group raised its stake in shares of HDFC Bank by 137.6% during the 3rd 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 during the period. JPMorgan Chase & Co. grew its holdings in HDFC Bank by 104.4% during the 3rd 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in HDFC Bank by 9,866.5% during the 3rd 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 in the last quarter. Franklin Resources Inc. increased 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 period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of 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. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HDB. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, HDFC Bank currently has a consensus rating of "Reduce".

HDFC Bank Stock Down 0.5%

Shares of NYSE HDB opened at $28.25 on Friday. The firm has a market capitalization of $144.11 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.17 and a beta of 0.56. The stock's 50-day simple moving average is $32.28 and its two-hundred day simple moving average is $34.55. HDFC Bank Limited has a twelve month low of $28.05 and a twelve month high of $39.81.

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).

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