Seafarer Capital Partners LLC Takes $23.06 Million Position in HDFC Bank Limited $HDB

Key Points

• Seafarer Capital Partners bought 632,000 shares of HDFC Bank in Q4—about a $23.06 million position that represents roughly 6.0% of Seafarer’s portfolio and is its 6th-largest holding.
• HDFC Bank carries a consensus rating of "Reduce" after mixed analyst moves (Weiss downgraded to Sell while Wall Street Zen moved to Hold); the stock trades near its 52-week low ($24.74) with a market cap of about $129.5 billion and a P/E of 15.24.

Seafarer Capital Partners LLC purchased a new position in HDFC Bank Limited (NYSE:HDB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 632,000 shares of the bank's stock, valued at approximately $23,055,000. HDFC Bank makes up approximately 6.0% of Seafarer Capital Partners LLC's portfolio, making the stock its 6th largest holding.

A number of other hedge funds have also recently made changes to their positions in HDB. Insigneo Advisory Services LLC grew its stake in HDFC Bank by 4.9% in the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank's stock valued at $249,000 after purchasing an additional 152 shares during the last quarter. Level Four Advisory Services LLC lifted its position in shares of HDFC Bank by 3.0% during the second quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank's stock valued at $589,000 after buying an additional 223 shares during the last quarter. Snowden Capital Advisors LLC lifted its position in shares of HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank's stock valued at $438,000 after buying an additional 311 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock valued at $31,000 after buying an additional 322 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in shares of HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank's stock worth $26,000 after buying an additional 379 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 0.1%

HDB opened at $25.38 on Tuesday. The company has a market cap of $129.46 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The firm's 50-day moving average price is $31.48 and its 200-day moving average price is $34.18. HDFC Bank Limited has a 52-week low of $24.74 and a 52-week high of $39.81.

Analyst Upgrades and Downgrades

HDB has been the subject of several recent analyst reports. Weiss Ratings lowered shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, HDFC Bank currently has a consensus rating of "Reduce".

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).

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