HDFC Bank (NYSE:HDB) Insider N Srinivasan Sells 10,000 Shares

HDFC Bank Limited (NYSE:HDB) insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $8.21, for a total transaction of $82,100.00. Following the completion of the transaction, the insider directly owned 648,422 shares in the company, valued at $5,323,544.62. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HDFC Bank Price Performance

Shares of HDB stock opened at $25.10 on Wednesday. The company’s 50-day simple moving average is $31.32 and its two-hundred day simple moving average is $34.10. The company has a market capitalization of $128.02 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.06 and a beta of 0.56. HDFC Bank Limited has a one year low of $24.74 and a one year high of $39.81.

Wall Street Analysts Forecast Growth

HDB has been the subject of several recent research reports. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, HDFC Bank presently has an average rating of “Reduce”.

Hedge Funds Weigh In On HDFC Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HDB. Schroder Investment Management Group raised its position in shares of HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after acquiring an additional 14,606,422 shares during the period. JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 9,808,890 shares in the last quarter. Royal Bank of Canada grew its holdings in HDFC Bank by 31.0% in the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after purchasing an additional 9,451,992 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of HDFC Bank by 9,866.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,944,403 shares of the bank’s stock worth $271,381,000 after buying an additional 7,864,692 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of HDFC Bank by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after buying an additional 7,147,440 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

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).