Home Hedge Funds Should You Consider Adding HDFC Bank Limited (HDB) to Your Portfolio?

Should You Consider Adding HDFC Bank Limited (HDB) to Your Portfolio?


ClearBridge Investments, an investment management company, released its “ClearBridge International Growth EAFE Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Holdings in Europe and the United Kingdom made significant contributions to the Strategy’s performance, which exceeded its benchmark, the MSCI EAFE Index. The strategy generated gains across nine of the ten sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge International Growth EAFE Strategy featured stocks such as HDFC Bank Limited (NYSE:HDB) in its Q4 2023 investor letter. Headquartered in Mumbai, India, HDFC Bank Limited (NYSE:HDB) offers banking and financial services. On January 8, 2024, HDFC Bank Limited (NYSE:HDB) stock closed at $65.92 per share. One-month return of HDFC Bank Limited (NYSE:HDB) was 1.96%, and its shares gained 0.52% of their value over the last 52 weeks. HDFC Bank Limited (NYSE:HDB) has a market capitalization of $166.832 billion.

ClearBridge International Growth EAFE Strategy stated the following regarding HDFC Bank Limited (NYSE:HDB) in its fourth quarter 2023 investor letter:

“We also repurchased HDFC Bank Limited (NYSE:HDB), an India-based retail and commercial lender, formed from the merger of HDFC Limited and HDFC Bank. The former has a big mortgage business and the latter strong deposit generation, which would offer inexpensive funding for the loan book of HDFC Limited. We expect net interest margin and return on equity will revert to pre-merger levels within a few quarters. HDFC Bank has lagged its Indian peers, creating an attractive entry point into a high-quality franchise.”

A person using a mobile device to access their bank account information.

HDFC Bank Limited (NYSE:HDB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held HDFC Bank Limited (NYSE:HDB) at the end of third quarter which was 38 in the previous quarter.

We discussed HDFC Bank Limited (NYSE:HDB) in another article and shared the list of high growth non-tech stocks that are profitable. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.

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