Charles Lim Capital Ltd Grows Stock Position in HDFC Bank Limited $HDB

Key Points

• Charles Lim Capital Ltd boosted its stake in HDFC Bank by 33.3% in Q3 to 2,000,000 shares (added 500,000), making HDFC Bank its 2nd-largest holding at 17.4% of the fund and valued at $68.32 million.
• Other major institutions — notably JPMorgan (added 9.8M shares to 19.2M), Robeco, C WorldWide, MFS and Fisher — also materially increased HDB positions in Q3, and institutional ownership stands at about 17.61%.
• HDFC Bank trades near $29.50 with a market cap of $150.49B and a P/E of 17.72, but analyst sentiment is cautious with a consensus rating of "Reduce" amid recent mixed upgrades and downgrades.

Charles Lim Capital Ltd lifted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 33.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000,000 shares of the bank's stock after acquiring an additional 500,000 shares during the quarter. HDFC Bank makes up 17.4% of Charles Lim Capital Ltd's holdings, making the stock its 2nd biggest holding. Charles Lim Capital Ltd's holdings in HDFC Bank were worth $68,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HDB. JPMorgan Chase & Co. boosted its holdings in HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank's stock valued at $656,035,000 after acquiring an additional 9,808,890 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of HDFC Bank by 150.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank's stock worth $396,312,000 after purchasing an additional 6,963,646 shares during the period. C WorldWide Group Holding A S boosted 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 purchasing an additional 5,345,005 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of HDFC Bank by 89.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank's stock valued at $348,741,000 after purchasing an additional 4,810,042 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of HDFC Bank by 102.2% during the third quarter. Fisher Asset Management LLC now owns 9,172,694 shares of the bank's stock worth $313,339,000 after buying an additional 4,635,870 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

HDFC Bank stock opened at $29.50 on Friday. The stock has a market capitalization of $150.49 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The stock's 50 day moving average price is $33.04 and its two-hundred day moving average price is $34.83.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HDB. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. 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.com, HDFC Bank has a consensus rating of "Reduce".

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).

Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.