Coronation Fund Managers Ltd. Grows Holdings in HDFC Bank Limited $HDB

Coronation Fund Managers Ltd. grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 14.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 554,295 shares of the bank’s stock after purchasing an additional 70,681 shares during the period. Coronation Fund Managers Ltd.’s holdings in HDFC Bank were worth $13,791,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HDB. 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 worth $303,857,000 after acquiring an additional 151,992 shares in the last quarter. M&T Bank Corp increased its holdings in HDFC Bank by 788.3% during the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock worth $4,206,000 after purchasing an additional 102,166 shares during the last quarter. ABN Amro Investment Solutions increased its holdings in HDFC Bank by 66.0% during the 1st quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank’s stock worth $37,294,000 after purchasing an additional 595,912 shares during the last quarter. Matthews International Capital Management LLC raised its position in shares of 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 purchasing an additional 126,650 shares in the last quarter. Finally, Boston Common Asset Management LLC raised its position in shares of 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 purchasing an additional 687,812 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Finally, Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, HDFC Bank has a consensus rating of “Hold”.

Insider Buying and Selling at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction on Tuesday, April 28th. The stock was 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 approximately $7,333,734.60. This represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

HDFC Bank Stock Down 2.2%

Shares of NYSE HDB opened at $23.22 on Thursday. The stock’s 50 day moving average price is $24.89 and its two-hundred day moving average price is $27.83. HDFC Bank Limited has a 52-week low of $22.91 and a 52-week high of $39.81. The stock has a market capitalization of $118.45 billion, a P/E ratio of 13.66, a PEG ratio of 1.12 and a beta of 0.64.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. HDFC Bank had a return on equity of 13.14% and a net margin of 15.96%.The company had revenue of $9.01 billion during the quarter, compared to analyst estimates of $5 billion. On average, analysts anticipate that HDFC Bank Limited will post 1.67 EPS for the current year.

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).