Trinity Street Asset Management LLP Has $192.19 Million Stock Position in HDFC Bank Limited $HDB

Trinity Street Asset Management LLP grew its stake in HDFC Bank Limited (NYSE:HDB) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,724,700 shares of the bank’s stock after purchasing an additional 1,657,700 shares during the period. HDFC Bank comprises about 13.2% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 4th biggest position. Trinity Street Asset Management LLP’s holdings in HDFC Bank were worth $192,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. PineStone Asset Management Inc. lifted its stake in shares of HDFC Bank by 1.9% in the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after buying an additional 151,992 shares during the period. M&T Bank Corp increased its stake in HDFC Bank by 788.3% during the fourth quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after acquiring an additional 102,166 shares during the period. Matthews International Capital Management LLC raised its holdings in HDFC Bank by 58.3% in the 4th quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock valued at $12,567,000 after acquiring an additional 126,650 shares in the last quarter. Boston Common Asset Management LLC raised its holdings in HDFC Bank by 80.9% in the 4th quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock valued at $56,181,000 after acquiring an additional 687,812 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings 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 in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 0.2%

NYSE HDB opened at $25.85 on Wednesday. The stock has a market cap of $131.86 billion, a P/E ratio of 15.48, a PEG ratio of 1.20 and a beta of 0.65. The company’s 50-day simple moving average is $24.74 and its 200 day simple moving average is $28.98. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81.

Insider Buying and Selling

In other news, insider N Srinivasan sold 10,000 shares of the 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 completion of the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the transaction, the insider owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This trade represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,600 shares of company stock worth $189,560 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HDB. Weiss Ratings reissued a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus 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).