HDFC Bank Limited $HDB Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its HDFC Bank stake by 87.2% in Q3, selling 53,515 shares and leaving it with 7,875 shares worth about $269,000.
• Several other institutional investors substantially increased positions in the quarter — for example, Hudson Edge (+100.6% to 1.51M shares) and State of New Jersey Common Pension Fund D (+102.5% to 2.37M shares).
• Analyst sentiment is mixed but cautious, with one upgrade to Hold and one downgrade to Sell leaving a consensus rating of "Reduce".

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 87.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,875 shares of the bank's stock after selling 53,515 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in HDFC Bank were worth $269,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hudson Edge Investment Partners Inc. increased its holdings in shares of 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 valued at $51,452,000 after acquiring an additional 755,200 shares in the last quarter. Jacobson & Schmitt Advisors LLC boosted its stake in HDFC Bank by 97.7% in the 3rd 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 in the last quarter. ABN Amro Investment Solutions grew its position in HDFC Bank by 100.0% during the 3rd 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. State of New Jersey Common Pension Fund D increased its stake in HDFC Bank by 102.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank's stock valued at $80,936,000 after purchasing an additional 1,199,084 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in HDFC Bank by 77.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank's stock valued at $57,641,000 after purchasing an additional 735,409 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HDB. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Weiss Ratings downgraded 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank currently has a consensus rating of "Reduce".

HDFC Bank Trading Down 0.5%

HDB opened at $28.37 on Friday. HDFC Bank Limited has a 12-month low of $28.05 and a 12-month high of $39.81. The firm has a market capitalization of $144.71 billion, a PE ratio of 17.04, a P/E/G ratio of 1.19 and a beta of 0.56. The firm has a 50 day moving average of $32.44 and a two-hundred day moving average of $34.62.

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).

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