Assenagon Asset Management S.A. Takes $11.76 Million Position in HDFC Bank Limited $HDB

Assenagon Asset Management S.A. bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 472,457 shares of the bank’s stock, valued at approximately $11,755,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schroder Investment Management Group grew its stake in HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock valued at $861,554,000 after purchasing an additional 14,606,422 shares during the last quarter. Royal Bank of Canada lifted its position in shares of HDFC Bank by 31.0% during the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after buying an additional 9,451,992 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of HDFC Bank by 9,866.5% during the third 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 buying an additional 7,864,692 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of HDFC Bank by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after buying an additional 7,147,440 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of HDFC Bank by 94.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after buying an additional 6,386,002 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’s 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 sale, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. The trade was a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,600 shares of company stock worth $189,560 in the last 90 days. Company insiders own 1.00% of the company’s stock.

HDFC Bank Trading Up 1.4%

Shares of NYSE:HDB opened at $25.72 on Friday. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81. The company’s 50 day moving average is $24.79 and its 200 day moving average is $29.16. The company has a market cap of $131.19 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.65.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

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).