Oaktree Capital Management LP Acquires 66,363 Shares of HDFC Bank Limited $HDB

Oaktree Capital Management LP boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 78.2% in the third quarter, Holdings Channel.com reports. The fund owned 151,206 shares of the bank’s stock after acquiring an additional 66,363 shares during the quarter. Oaktree Capital Management LP’s holdings in HDFC Bank were worth $5,165,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in shares of HDFC Bank during the third quarter worth $2,031,000. Invesco Ltd. increased its stake in HDFC Bank by 98.3% in the 3rd quarter. Invesco Ltd. now owns 12,338,006 shares of the bank’s stock worth $421,466,000 after buying an additional 6,115,797 shares during the period. Employees Retirement System of Texas increased its stake in HDFC Bank by 77.4% in the 3rd quarter. Employees Retirement System of Texas now owns 202,810 shares of the bank’s stock worth $6,928,000 after buying an additional 88,475 shares during the period. Sei Investments Co. lifted its holdings in HDFC Bank by 96.1% during the 3rd quarter. Sei Investments Co. now owns 5,159,063 shares of the bank’s stock valued at $176,233,000 after buying an additional 2,528,149 shares in the last quarter. Finally, UBS Group AG boosted its position in HDFC Bank by 161.7% in the 3rd quarter. UBS Group AG now owns 3,787,950 shares of the bank’s stock valued at $129,396,000 after buying an additional 2,340,359 shares during the period. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

HDB has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

HDFC Bank Stock Performance

HDFC Bank stock traded down $0.15 during mid-day trading on Friday, reaching $28.24. 987,140 shares of the company were exchanged, compared to its average volume of 7,003,443. HDFC Bank Limited has a 12-month low of $28.05 and a 12-month high of $39.81. The business has a fifty day moving average of $32.44 and a 200 day moving average of $34.62. The firm has a market cap of $144.05 billion, a P/E ratio of 16.96, a PEG ratio of 1.19 and a beta of 0.56.

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).