HDFC Bank Limited $HDB Stock Position Lifted by Westwood Global Investments LLC

Key Points

• Westwood Global Investments doubled its stake in HDFC Bank in Q3, adding 393,475 shares to reach 786,950 shares worth about $26.88 million, making the bank its seventh-largest holding.
• Several other institutional investors materially increased positions — notably Tudor Investment (+1,651.3% to 169,616 shares), Keel Point (+85.4%) and Greenfield Seitz (+99.3%) — and institutions now own about 17.61% of the stock.
• Analyst sentiment is mixed-to-negative (Wall Street Zen upgraded to Hold while Weiss Ratings cut to Sell, MarketBeat consensus = "Reduce"), and the stock is down ~7.4%, trading around $26.57 near its 12‑month low with a market cap of about $135.6 billion.

Westwood Global Investments LLC increased its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 100.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 786,950 shares of the bank's stock after acquiring an additional 393,475 shares during the period. HDFC Bank comprises about 0.0% of Westwood Global Investments LLC's holdings, making the stock its 7th largest holding. Westwood Global Investments LLC's holdings in HDFC Bank were worth $26,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Keel Point LLC boosted its stake in shares of HDFC Bank by 85.4% during the third quarter. Keel Point LLC now owns 6,553 shares of the bank's stock valued at $224,000 after purchasing an additional 3,018 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of HDFC Bank by 1,651.3% in the third quarter. Tudor Investment Corp ET AL now owns 169,616 shares of the bank's stock worth $5,794,000 after buying an additional 159,931 shares during the period. Allworth Financial LP increased its stake in shares of HDFC Bank by 124.7% in the third quarter. Allworth Financial LP now owns 5,014 shares of the bank's stock worth $171,000 after buying an additional 2,783 shares during the period. IFP Advisors Inc raised its holdings in HDFC Bank by 88.5% during the 3rd quarter. IFP Advisors Inc now owns 18,347 shares of the bank's stock valued at $627,000 after buying an additional 8,614 shares during the last quarter. Finally, Greenfield Seitz Capital Management LLC boosted its position in HDFC Bank by 99.3% during the 3rd quarter. Greenfield Seitz Capital Management LLC now owns 111,479 shares of the bank's stock valued at $3,808,000 after buying an additional 55,533 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HDB shares. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. One investment 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 has an average rating of "Reduce".

HDFC Bank Stock Down 7.4%

NYSE:HDB opened at $26.57 on Thursday. The firm's fifty day simple moving average is $31.94 and its 200 day simple moving average is $34.39. The stock has a market cap of $135.57 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.19 and a beta of 0.56. HDFC Bank Limited has a twelve month low of $26.42 and a twelve month high of $39.81.

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).

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.