Hardman Johnston Global Advisors LLC Has $161.82 Million Stock Position in HDFC Bank Limited $HDB

Key Points

• Hardman Johnston Global Advisors increased its Q4 stake in HDFC Bank by 3.7% to 4,428,563 shares (about $161.82 million), making HDB its third-largest holding and 7.7% of the firm's portfolio.
• Multiple institutional investors also raised positions (including PineStone, Hudson Edge, Jacobson & Schmitt, ABN Amro and the State of New Jersey), and institutional ownership of HDFC Bank stands at roughly 17.61%.
• Analyst sentiment is mixed-to-negative: one analyst rates HDB a Hold and one a Sell, MarketBeat's consensus is "Reduce", with recent conflicting actions such as a Wall Street Zen upgrade and a Weiss Ratings downgrade.

Hardman Johnston Global Advisors LLC increased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,428,563 shares of the bank's stock after buying an additional 158,881 shares during the period. HDFC Bank accounts for 7.7% of Hardman Johnston Global Advisors LLC's holdings, making the stock its 3rd biggest holding. Hardman Johnston Global Advisors LLC owned about 0.09% of HDFC Bank worth $161,820,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. PineStone Asset Management Inc. boosted its holdings in HDFC Bank by 1.9% during 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 last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in HDFC Bank by 100.6% during 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 last quarter. Jacobson & Schmitt Advisors LLC boosted its holdings in HDFC Bank by 97.7% during 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 last quarter. ABN Amro Investment Solutions boosted its holdings in HDFC Bank by 100.0% during 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 last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in HDFC Bank by 102.5% during 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 last quarter. Institutional investors own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HDB shares. Wall Street Zen upgraded shares of 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 report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

HDFC Bank Stock Performance

Shares of HDB stock opened at $26.74 on Monday. The firm has a market cap of $136.39 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.01 and a beta of 0.67. HDFC Bank Limited has a 52 week low of $23.91 and a 52 week high of $39.81. The firm's 50-day simple moving average is $29.51 and its two-hundred day simple moving average is $33.21.

Insider Buying and Selling

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

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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