Schroder Investment Management Group Buys 14,606,422 Shares of HDFC Bank Limited $HDB

Key Points

• Schroder Investment Management Group boosted its stake in HDFC Bank by 137.6% in Q3, buying an additional 14,606,422 shares to own 25,221,130 shares (about $861.6M, ~0.49% of HDB) and making the stock its 24th-largest holding.
• HDB opened down 2.9% at $29.50, trading below its 50-day and 200-day moving averages ($33.04 and $34.81) and carrying a market cap of $150.49 billion with a P/E of 17.72.
• Analyst sentiment is mixed—Weiss Ratings downgraded HDB to a "sell (d+)" while Wall Street Zen upgraded to "hold," and MarketBeat's average rating is "Reduce".

Schroder Investment Management Group lifted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 137.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,221,130 shares of the bank's stock after purchasing an additional 14,606,422 shares during the period. HDFC Bank accounts for 0.7% of Schroder Investment Management Group's investment portfolio, making the stock its 24th biggest holding. Schroder Investment Management Group owned approximately 0.49% of HDFC Bank worth $861,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Insigneo Advisory Services LLC increased its position in HDFC Bank by 4.9% in the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank's stock worth $249,000 after buying an additional 152 shares during the last quarter. Huntington National Bank grew its stake in shares of HDFC Bank by 13.3% during the 2nd quarter. Huntington National Bank now owns 1,349 shares of the bank's stock worth $103,000 after acquiring an additional 158 shares during the period. Level Four Advisory Services LLC increased its holdings in HDFC Bank by 3.0% in the 2nd quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank's stock worth $589,000 after acquiring an additional 223 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in HDFC Bank by 12.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,548 shares of the bank's stock worth $195,000 after acquiring an additional 273 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in HDFC Bank by 5.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank's stock valued at $438,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of research reports. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. 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, the company currently has an average rating of "Reduce".

HDFC Bank Trading Down 2.9%

HDB stock opened at $29.50 on Monday. The firm has a 50 day moving average of $33.04 and a 200-day moving average of $34.81. The firm has a market capitalization of $150.49 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 12 month low of $29.23 and a 12 month high of $39.81.

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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