Franklin Resources Inc. Boosts Stock Position in HDFC Bank Limited $HDB

Franklin Resources Inc. lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 106.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,884,943 shares of the bank’s stock after buying an additional 7,147,440 shares during the quarter. Franklin Resources Inc.’s holdings in HDFC Bank were worth $474,310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HDB. Schroder Investment Management Group grew its stake in 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 acquiring an additional 14,606,422 shares during the period. JPMorgan Chase & Co. raised its position in HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after acquiring an additional 9,808,890 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in HDFC Bank by 150.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock valued at $396,312,000 after purchasing an additional 6,963,646 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in HDFC Bank by 89.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock valued at $348,741,000 after purchasing an additional 4,810,042 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its position in shares of HDFC Bank by 133.0% in the third quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock valued at $319,834,000 after purchasing an additional 5,345,005 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

HDB has been the subject of a number of research reports. Weiss Ratings cut 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 raised 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

HDFC Bank Price Performance

HDB opened at $28.47 on Thursday. The firm has a market capitalization of $145.22 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The company’s 50 day simple moving average is $32.60 and its two-hundred day simple moving average is $34.66. HDFC Bank Limited has a 1-year low of $28.32 and a 1-year high of $39.81.

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).