M&T Bank Corp Acquires 102,166 Shares of HDFC Bank Limited $HDB

Key Points

• M&T Bank Corp increased its stake in HDFC Bank by 788.3% in Q4, adding 102,166 shares to hold 115,126 shares valued at about $4.21 million.
• Other major institutions — including Schroder, JPMorgan, UBS, Franklin and Wellington — also materially raised positions in HDFC, with institutional investors collectively owning about 17.61% of the stock.
• HDFC shares were trading up ~3.2%; the company has a market cap of ~$130.7 billion and a P/E of 15.34, but analyst ratings average to a "Reduce" and insiders sold 21,600 shares in the past three months.

M&T Bank Corp increased its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 788.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,126 shares of the bank's stock after purchasing an additional 102,166 shares during the quarter. M&T Bank Corp's holdings in HDFC Bank were worth $4,206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HDB. Schroder Investment Management Group lifted its position in HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank's stock worth $861,554,000 after purchasing an additional 14,606,422 shares during the period. JPMorgan Chase & Co. lifted its position 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in HDFC Bank by 9,866.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank's stock worth $271,381,000 after purchasing an additional 7,864,692 shares during the period. Franklin Resources Inc. lifted its position in HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank's stock worth $474,310,000 after purchasing an additional 7,147,440 shares during the period. Finally, Wellington Management Group LLP lifted its position in HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank's stock worth $449,381,000 after purchasing an additional 6,386,002 shares during the period. Institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Up 3.2%

Shares of NYSE HDB opened at $25.62 on Thursday. The company has a market cap of $130.67 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.15 and a beta of 0.68. HDFC Bank Limited has a 12 month low of $23.91 and a 12 month high of $39.81. The stock has a 50-day moving average price of $27.19 and a two-hundred day moving average price of $32.24.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HDB shares. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

Insider Activity

In other HDFC Bank news, insider Ashish Parthasarthy sold 6,000 shares of the business's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares of the company's stock, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the business's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $8.21, for a total value of $82,100.00. Following the transaction, the insider directly 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 position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,600 shares of company stock valued at $184,460. Insiders own 1.00% of the company's stock.

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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