Bessemer Group Inc. Buys 536,439 Shares of HDFC Bank Limited $HDB

Bessemer Group Inc. grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,520,543 shares of the bank’s stock after buying an additional 536,439 shares during the quarter. Bessemer Group Inc. owned approximately 0.07% of HDFC Bank worth $128,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schroder Investment Management Group grew its stake in shares of HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after buying an additional 14,606,422 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of HDFC Bank by 104.4% during the third quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after buying an additional 9,808,890 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of HDFC Bank by 106.1% during the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after buying an additional 7,147,440 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after buying an additional 6,386,002 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of HDFC Bank by 6.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 12,392,854 shares of the bank’s stock worth $452,835,000 after buying an additional 791,226 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of research reports. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HDFC Bank has an average rating of “Reduce”.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $24.41 on Friday. The firm has a market cap of $124.54 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.15 and a beta of 0.68. The firm’s fifty day moving average is $26.21 and its 200-day moving average is $31.68. HDFC Bank Limited has a 52 week low of $23.75 and a 52 week high of $39.81.

Insiders Place Their Bets

In other news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is owned by company insiders.

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).