Pinpoint Asset Management Singapore Pte. Ltd. Takes $20.14 Million Position in HDFC Bank Limited $HDB

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in HDFC Bank Limited (NYSE:HDB) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 589,247 shares of the bank’s stock, valued at approximately $20,135,000. HDFC Bank makes up approximately 3.7% of Pinpoint Asset Management Singapore Pte. Ltd.’s holdings, making the stock its 7th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in HDFC Bank by 137.6% during 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. JPMorgan Chase & Co. grew its stake in shares of HDFC Bank by 104.4% in the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after purchasing an additional 9,808,890 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of 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 during the period. C WorldWide Group Holding A S increased its holdings in shares of HDFC Bank by 133.0% during 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. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of 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. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

HDFC Bank Stock Down 2.9%

Shares of HDB stock opened at $29.50 on Monday. The stock has a 50-day simple moving average of $33.04 and a 200 day simple moving average of $34.81. HDFC Bank Limited has a fifty-two week low of $29.23 and a fifty-two week high of $39.81. The stock has a market capitalization of $150.49 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.23 and a beta of 0.56.

HDFC Bank 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).