HDFC Bank Limited $HDB Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp boosted its stake in HDFC Bank by 101.3% in Q3, buying 925,954 shares to hold 1,839,758 shares valued at $62.846 million.
• Other major institutions also ramped up positions — notably Franklin Resources (+106.1%) now owns 13,884,943 shares (~$474.31 million) and Capital Research/Capital World Investors roughly doubled their stakes, with institutional investors holding 17.61% of the stock.
• HDFC Bank shares opened at $28.37 with a market cap of $144.71 billion and a P/E of 17.04, while analyst coverage is mixed and the consensus rating on MarketBeat is "Reduce".

Mackenzie Financial Corp boosted its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 101.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,839,758 shares of the bank's stock after buying an additional 925,954 shares during the quarter. Mackenzie Financial Corp's holdings in HDFC Bank were worth $62,846,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of 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 in the last quarter. Van ECK Associates Corp increased its position in shares of HDFC Bank by 179.2% during the third quarter. Van ECK Associates Corp now owns 225,615 shares of the bank's stock worth $7,707,000 after purchasing an additional 144,807 shares in the last quarter. FourThought Financial Partners LLC increased its position in shares of HDFC Bank by 97.0% during the third quarter. FourThought Financial Partners LLC now owns 23,307 shares of the bank's stock worth $796,000 after purchasing an additional 11,477 shares in the last quarter. Capital Research Global Investors raised its stake in HDFC Bank by 100.2% in the 3rd quarter. Capital Research Global Investors now owns 4,619,844 shares of the bank's stock valued at $157,814,000 after purchasing an additional 2,312,629 shares during the last quarter. Finally, Capital World Investors lifted its holdings in HDFC Bank by 101.1% in the 3rd quarter. Capital World Investors now owns 4,226,650 shares of the bank's stock valued at $144,379,000 after purchasing an additional 2,125,095 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Trading Down 0.5%

Shares of NYSE:HDB opened at $28.37 on Friday. The company has a market capitalization of $144.71 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.19 and a beta of 0.56. HDFC Bank Limited has a 12-month low of $28.05 and a 12-month high of $39.81. The business has a 50-day moving average price of $32.44 and a 200 day moving average price of $34.62.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce".

HDFC Bank 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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