Ellington Management Group LLC reduced its stake in HDFC Bank Limited (NYSE:HDB) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,200 shares of the bank’s stock after selling 7,100 shares during the period. Ellington Management Group LLC’s holdings in HDFC Bank were worth $630,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Viking Global Investors LP raised its stake in shares of HDFC Bank by 14.8% in the fourth quarter. Viking Global Investors LP now owns 660,838 shares of the bank’s stock valued at $67,187,000 after acquiring an additional 85,355 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of HDFC Bank by 12.3% in the fourth quarter. Guggenheim Capital LLC now owns 41,113 shares of the bank’s stock valued at $4,180,000 after acquiring an additional 4,499 shares in the last quarter. Martin Currie Ltd. raised its stake in shares of HDFC Bank by 109.3% in the fourth quarter. Martin Currie Ltd. now owns 1,268,491 shares of the bank’s stock valued at $128,968,000 after acquiring an additional 662,497 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of HDFC Bank by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 458,000 shares of the bank’s stock valued at $46,564,000 after acquiring an additional 2,989 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of HDFC Bank in the fourth quarter valued at $114,000. Institutional investors and hedge funds own 17.40% of the company’s stock.
Shares of HDFC Bank Limited (HDB) opened at $97.77 on Wednesday. HDFC Bank Limited has a 52 week low of $72.02 and a 52 week high of $110.77. The firm has a market capitalization of $83,936.80, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00.
Separately, Zacks Investment Research cut HDFC Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th.
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HDFC Bank Profile
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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