CCLA Investment Management Lowers Holdings in HDFC Bank Limited $HDB

Key Points

• CCLA Investment Management trimmed its stake in HDFC Bank by 1.5% in Q4, selling 66,265 shares and now holds 4,286,185 shares worth about $156.6 million, making HDFC its 9th largest position.
• Several other institutional investors materially increased positions (e.g., PineStone, Hudson Edge, State of New Jersey), leaving total institutional ownership at 17.61%.
• Analyst sentiment is weak—Weiss Ratings cut HDFC to a "sell" while Wall Street Zen moved it to "hold," leaving a MarketBeat average rating of "Reduce"; the stock trades near $27 with a market cap of about $138.1 billion and a P/E of 16.26.

CCLA Investment Management decreased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,286,185 shares of the bank's stock after selling 66,265 shares during the period. HDFC Bank makes up 2.5% of CCLA Investment Management's holdings, making the stock its 9th biggest position. CCLA Investment Management owned 0.08% of HDFC Bank worth $156,574,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. PineStone Asset Management Inc. increased its position in shares of HDFC Bank by 1.9% in the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank's stock worth $303,857,000 after purchasing an additional 151,992 shares during the period. Hudson Edge Investment Partners Inc. increased its position in shares of HDFC Bank by 100.6% in the third quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank's stock worth $51,452,000 after purchasing an additional 755,200 shares during the period. Jacobson & Schmitt Advisors LLC increased its position in shares of HDFC Bank by 97.7% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank's stock worth $13,088,000 after purchasing an additional 189,303 shares during the period. ABN Amro Investment Solutions increased its position in shares of HDFC Bank by 100.0% in the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank's stock worth $7,141,000 after purchasing an additional 104,525 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in shares of HDFC Bank by 102.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank's stock worth $80,936,000 after purchasing an additional 1,199,084 shares during the period. Institutional investors own 17.61% of the company's stock.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $8.21, for a total value of $82,100.00. Following the transaction, the insider owned 648,422 shares in the company, valued at $5,323,544.62. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on HDB shares. Weiss Ratings cut HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, HDFC Bank has an average rating of "Reduce".

HDFC Bank Stock Up 6.1%

HDFC Bank stock opened at $27.07 on Thursday. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81. The business's 50-day moving average price is $29.74 and its two-hundred day moving average price is $33.33. The stock has a market cap of $138.11 billion, a PE ratio of 16.26, a P/E/G ratio of 0.89 and a beta of 0.67.

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).

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