Seafarer Capital Partners LLC Increases Stock Holdings in HDFC Bank Limited $HDB

Key Points

• Seafarer Capital Partners boosted its HDFC Bank stake by 81.6% in Q1, buying 516,000 additional shares to bring its total to 1,148,000 shares worth about $30.8 million.
• Other institutional investors also increased exposure, with large moves from firms like Principal Financial Group, Royal Bank of Canada, and UBS AM, while institutional ownership stood at 17.61%.
• Analyst sentiment remains weak: Zacks Research cut HDFC Bank to “strong sell,” and the stock’s consensus rating is currently Sell.

Seafarer Capital Partners LLC raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 81.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,148,000 shares of the bank's stock after acquiring an additional 516,000 shares during the period. HDFC Bank makes up about 7.1% of Seafarer Capital Partners LLC's holdings, making the stock its 6th largest position. Seafarer Capital Partners LLC's holdings in HDFC Bank were worth $30,799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of HDFC Bank by 16,808.5% in the 1st quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank's stock worth $447,289,000 after purchasing an additional 17,871,520 shares in the last quarter. Royal Bank of Canada increased its stake in HDFC Bank by 31.0% during the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank's stock valued at $1,457,865,000 after purchasing an additional 9,451,992 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in HDFC Bank by 9,866.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank's stock valued at $271,381,000 after purchasing an additional 7,864,692 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 buying an additional 6,386,002 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in HDFC Bank by 98.3% during the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank's stock worth $421,466,000 after buying an additional 6,115,797 shares during the last quarter. Institutional investors own 17.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of HDFC Bank from a "hold" rating to a "strong sell" rating in a research note on Thursday, June 18th. Weiss Ratings reissued a "sell (d+)" rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Insider Activity at HDFC Bank

In other news, insider Ashish Parthasarthy sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider directly owned 848,558 shares of the company's stock, valued at $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the sale, the insider directly owned 638,422 shares of the company's stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,600 shares of company stock valued at $189,560. 1.00% of the stock is currently owned by corporate insiders.

HDFC Bank Stock Performance

Shares of HDB stock opened at $26.20 on Thursday. The company has a market capitalization of $133.64 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.21 and a beta of 0.64. HDFC Bank Limited has a 52-week low of $22.91 and a 52-week high of $39.81. The company has a 50-day simple moving average of $24.88 and a two-hundred day simple moving average of $28.24.

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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