Marathon Asset Management Ltd grew its position in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 973,218 shares of the bank’s stock after purchasing an additional 94,280 shares during the quarter. HDFC Bank makes up 1.4% of Marathon Asset Management Ltd’s holdings, making the stock its 28th biggest holding. Marathon Asset Management Ltd’s holdings in HDFC Bank were worth $35,561,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its stake in shares of HDFC Bank by 19.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after acquiring an additional 384 shares during the period. Hardy Reed LLC lifted its stake in shares of HDFC Bank by 5.9% in the fourth quarter. Hardy Reed LLC now owns 9,526 shares of the bank’s stock worth $348,000 after acquiring an additional 529 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of HDFC Bank by 5.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 238,353 shares of the bank’s stock worth $8,709,000 after acquiring an additional 11,924 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of HDFC Bank by 44.8% in the fourth quarter. Handelsbanken Fonder AB now owns 39,815 shares of the bank’s stock worth $1,455,000 after acquiring an additional 12,315 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of HDFC Bank by 4.1% in the fourth quarter. HighTower Advisors LLC now owns 418,636 shares of the bank’s stock worth $15,297,000 after acquiring an additional 16,623 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on HDB shares. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.
HDFC Bank Stock Performance
Shares of HDB stock opened at $24.23 on Wednesday. The company has a market cap of $123.58 billion, a P/E ratio of 14.51, a PEG ratio of 1.14 and a beta of 0.68. The stock has a 50 day simple moving average of $25.98 and a two-hundred day simple moving average of $31.47. HDFC Bank Limited has a fifty-two week low of $23.75 and a fifty-two week high of $39.81.
Insider Buying and Selling
In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. The trade was a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is currently owned by corporate insiders.
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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