HDFC Bank Limited $HDB Shares Bought by SPX Gestao de Recursos Ltda

Key Points

• SPX Gestao de Recursos Ltda increased its stake in HDFC Bank by 80.4% in Q3 to 222,000 shares, valued at about $7.58 million.
• Other large institutions also ramped up positions — notably JPMorgan Chase (+104.4% to 19,204,783 shares, ~$656.0M) and Robeco (+150.1% to 11,601,628 shares, ~$396.3M) — leaving institutional ownership near 17.61%.
• HDFC Bank ADRs traded down ~2.9% (opened $29.50) with a 52-week range of $29.23–$39.81 and market cap ~$150.5B, and analysts have recently moved ratings to an average "Hold".

SPX Gestao de Recursos Ltda grew its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 80.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,000 shares of the bank's stock after acquiring an additional 98,923 shares during the period. SPX Gestao de Recursos Ltda's holdings in HDFC Bank were worth $7,584,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank's stock worth $656,035,000 after purchasing an additional 9,808,890 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings 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 valued at $396,312,000 after purchasing an additional 6,963,646 shares during the last quarter. Schroder Investment Management Group increased its position in shares of HDFC Bank by 19.0% in the second quarter. Schroder Investment Management Group now owns 10,614,708 shares of the bank's stock valued at $813,830,000 after buying an additional 1,692,243 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of HDFC Bank by 89.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank's stock valued at $348,741,000 after buying an additional 4,810,042 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its stake in shares of HDFC Bank by 133.0% during the 3rd quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank's stock worth $319,834,000 after buying an additional 5,345,005 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Trading Down 2.9%

HDFC Bank stock opened at $29.50 on Friday. The stock has a 50-day moving average price of $33.04 and a 200 day moving average price of $34.85. HDFC Bank Limited has a 52 week low of $29.23 and a 52 week high of $39.81. The stock has a market cap of $150.49 billion, a PE ratio of 17.72, a P/E/G ratio of 1.26 and a beta of 0.56.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of HDFC Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, HDFC Bank currently has an average rating of "Hold".

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).

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.