Franklin Resources Inc. Buys 19,043 Shares of HDFC Bank Limited (HDB)

Franklin Resources Inc. lifted its stake in HDFC Bank Limited (NYSE:HDB) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 743,976 shares of the bank’s stock after purchasing an additional 19,043 shares during the period. Franklin Resources Inc.’s holdings in HDFC Bank were worth $70,008,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HDB. First Mercantile Trust Co. lifted its holdings in HDFC Bank by 5.6% during the third quarter. First Mercantile Trust Co. now owns 11,060 shares of the bank’s stock worth $1,041,000 after acquiring an additional 585 shares in the last quarter. Dubuque Bank & Trust Co. lifted its holdings in HDFC Bank by 2.9% during the third quarter. Dubuque Bank & Trust Co. now owns 21,208 shares of the bank’s stock worth $1,995,000 after acquiring an additional 600 shares in the last quarter. Deltec Asset Management LLC lifted its holdings in HDFC Bank by 1.4% during the second quarter. Deltec Asset Management LLC now owns 52,034 shares of the bank’s stock worth $5,465,000 after acquiring an additional 708 shares in the last quarter. EFG Asset Management Americas Corp. lifted its holdings in HDFC Bank by 23.3% during the third quarter. EFG Asset Management Americas Corp. now owns 4,089 shares of the bank’s stock worth $385,000 after acquiring an additional 772 shares in the last quarter. Finally, Lenox Wealth Management Inc. lifted its holdings in HDFC Bank by 1.9% during the third quarter. Lenox Wealth Management Inc. now owns 51,272 shares of the bank’s stock worth $4,825,000 after acquiring an additional 938 shares in the last quarter. Institutional investors and hedge funds own 18.84% of the company’s stock.

NYSE:HDB opened at $101.86 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $85.52 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.19 and a beta of 0.96. HDFC Bank Limited has a 52-week low of $85.43 and a 52-week high of $112.10.

A number of brokerages have recently commented on HDB. ValuEngine lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered HDFC Bank from a “strong-buy” rating to a “sell” rating in a report on Wednesday, October 3rd.

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About HDFC Bank

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

Further Reading: Why is insider trading harmful?

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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