Flossbach Von Storch SE Has $60.54 Million Stake in HDFC Bank Limited $HDB

Key Points

• Flossbach Von Storch SE cut its stake in HDFC Bank by 16.4% in Q4, selling 326,000 shares and now holds 1,656,810 shares valued at about $60.54 million.
• Several large institutions aggressively increased positions in Q3—Schroder (+137.6%) now owns 25.22M shares (~$861.6M), JPMorgan (+104.4%) 19.20M (~$656.0M), and UBS AM added 7.94M—institutions collectively own 17.61% of the stock.
• Insiders made small sales (N. Srinivasan 10,000 shares; Ashish Parthasarthy 6,000), insiders own 1.00%; HDFC Bank trades around $25.71 with a market cap of $131.18 billion, a P/E of 15.40, and an average analyst rating of “Reduce.”

Flossbach Von Storch SE lowered its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,656,810 shares of the bank's stock after selling 326,000 shares during the period. Flossbach Von Storch SE's holdings in HDFC Bank were worth $60,540,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in HDFC Bank by 137.6% in the 3rd quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank's stock valued at $861,554,000 after buying an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 9,808,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 acquiring an additional 7,864,692 shares during the period. Franklin Resources Inc. boosted its holdings in HDFC Bank by 106.1% in the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank's stock valued at $474,310,000 after acquiring an additional 7,147,440 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in HDFC Bank by 150.1% in the third 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. Institutional investors own 17.61% of the company's stock.

Insider Activity at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $8.21, for a total value of $82,100.00. Following the completion of the transaction, the insider owned 648,422 shares of the company's stock, valued at $5,323,544.62. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider owned 848,558 shares of the company's stock, valued at approximately $7,586,108.52. This represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

HDFC Bank Trading Up 0.2%

NYSE HDB opened at $25.71 on Tuesday. HDFC Bank Limited has a 12 month low of $23.91 and a 12 month high of $39.81. The stock has a 50-day simple moving average of $27.96 and a 200 day simple moving average of $32.60. The company has a market capitalization of $131.18 billion, a PE ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 0.67.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HDB. Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a report 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, March 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average 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).

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