Ninety One UK Ltd Grows Stake in HDFC Bank Limited $HDB

Key Points

• Ninety One UK Ltd increased its stake in HDFC Bank by 6.7% in Q4, buying 93,180 shares to hold a total of 1,492,417 shares worth about $54.53 million.
• Insider N. Srinivasan sold 10,000 shares on March 23 at $8.21 (reducing his position by 1.52%); company insiders own about 1.00% of the stock while institutional investors hold 17.61%.
• Analyst sentiment is mixed with an average rating of "Reduce" (one Hold, one Sell), but recent positive catalysts—strong Q4 results at HDB Financial Services and a broker raising HDB’s price target to $38.90—have lifted market sentiment.

Ninety One UK Ltd grew its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,492,417 shares of the bank's stock after buying an additional 93,180 shares during the quarter. Ninety One UK Ltd's holdings in HDFC Bank were worth $54,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock worth $29,000 after buying an additional 403 shares during the period. Parkside Financial Bank & Trust lifted its holdings in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock worth $31,000 after buying an additional 322 shares during the period. Accent Capital Management LLC lifted its stake in shares of HDFC Bank by 100.0% in the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank's stock valued at $31,000 after purchasing an additional 459 shares during the period. Clearstead Advisors LLC lifted its stake in shares of HDFC Bank by 476.8% in the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank's stock valued at $31,000 after purchasing an additional 739 shares during the period. Finally, Pin Oak Investment Advisors Inc. lifted its stake in shares of HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank's stock valued at $34,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Insiders Place Their Bets

In related news, insider N Srinivasan sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $8.21, for a total transaction of $82,100.00. Following the completion of the transaction, the insider owned 648,422 shares of the company's stock, valued at $5,323,544.62. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

HDFC Bank Stock Up 4.1%

HDB opened at $27.52 on Friday. HDFC Bank Limited has a 52 week low of $23.91 and a 52 week high of $39.81. The stock has a market cap of $140.37 billion, a PE ratio of 16.53, a PEG ratio of 1.02 and a beta of 0.67. The business has a 50 day moving average of $28.81 and a 200-day moving average of $32.97.

Analyst Ratings Changes

HDB has been the subject of a number of research analyst reports. Weiss Ratings cut HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Trending Headlines about HDFC Bank

Here are the key news stories impacting HDFC Bank this week:

• Positive Sentiment: Analyst price-target raise — A broker raised HDB’s price target by 24.82% to $38.90, signaling improved analyst confidence in the stock’s upside. Price target increase article
• Positive Sentiment: Strong Q4 at HDB Financial Services — The NBFC reported a ~41% YoY jump in net profit to Rs 751 crore for Q4 and declared a Rs 2 dividend, highlighting earnings momentum and return of capital. Q4 results article
• Positive Sentiment: Brokerages bullish on the NBFC — JM Financial, Motilal Oswal and others flagged the quarter as healthy, noted improving asset quality and suggested double-digit upside potential in the finance arm, which lifts the group narrative. Brokerage reaction article
• Positive Sentiment: Market reaction — Shares of HDB Financial spiked double-digits on the results, lifting sentiment across the group’s listed entities and supporting HDFC Bank ADR flows. Market reaction article
• Neutral Sentiment: Re-rating conditional — Motilal Oswal notes that any sustained re-rating for the finance business depends on a few specific factors (growth sustainability, asset quality and margins), so further upside is contingent on execution. Re-rating factors article

HDFC Bank Company 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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