CIBC Private Wealth Group LLC Has $87.83 Million Stock Holdings in HDFC Bank Limited $HDB

CIBC Private Wealth Group LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 107.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,571,124 shares of the bank’s stock after acquiring an additional 1,330,741 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in HDFC Bank were worth $87,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HDB. Schroder Investment Management Group grew its stake in shares of HDFC Bank by 137.6% in the 3rd quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock valued at $861,554,000 after buying an additional 14,606,422 shares during the period. JPMorgan Chase & Co. increased its position in HDFC Bank by 104.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after buying an additional 9,808,890 shares in the last quarter. Franklin Resources Inc. raised its stake in HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after buying an additional 7,147,440 shares during the period. Wellington Management Group LLP boosted its holdings in HDFC Bank by 94.3% in the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after acquiring an additional 6,386,002 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in HDFC Bank by 98.3% in the third quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after acquiring an additional 6,115,797 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB opened at $26.57 on Thursday. HDFC Bank Limited has a fifty-two week low of $26.42 and a fifty-two week high of $39.81. The firm has a market capitalization of $135.57 billion, a PE ratio of 15.96, a P/E/G ratio of 1.19 and a beta of 0.56. The company’s 50-day moving average is $31.94 and its 200 day moving average is $34.39.

Analyst Ratings Changes

Several research firms have recently commented on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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).