HDFC Bank Limited $HDB Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in HDFC Bank Limited (NYSE:HDB) by 109.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,394,880 shares of the bank’s stock after purchasing an additional 2,818,933 shares during the period. Russell Investments Group Ltd. owned 0.11% of HDFC Bank worth $184,284,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Schroder Investment Management Group increased its holdings 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 buying an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. raised its stake in HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock valued at $656,035,000 after buying an additional 9,808,890 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in HDFC Bank by 150.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,601,628 shares of the bank’s stock worth $396,312,000 after buying an additional 6,963,646 shares during the last quarter. C WorldWide Group Holding A S grew its position in shares of HDFC Bank by 133.0% in the 3rd quarter. C WorldWide Group Holding A S now owns 9,362,828 shares of the bank’s stock worth $319,834,000 after acquiring an additional 5,345,005 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of HDFC Bank by 89.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,209,034 shares of the bank’s stock worth $348,741,000 after acquiring an additional 4,810,042 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $29.50 on Monday. The firm has a fifty day moving average of $33.04 and a 200-day moving average of $34.81. The company has a market cap of $150.49 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HDB. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One 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 stock has an average rating of “Reduce”.

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).