Stock Traders Purchase Large Volume of Call Options on HDFC Bank (NYSE:HDB)

HDFC Bank Limited (NYSE:HDB) saw some unusual options trading on Wednesday. Traders acquired 8,986 call options on the stock. This is an increase of approximately 1,879% compared to the average volume of 454 call options.

Insider Buying and Selling at HDFC Bank

In other news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction on 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 owned 648,422 shares of the company’s stock, valued at $5,323,544.62. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HDFC Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ARP Global Capital Ltd purchased a new stake in HDFC Bank in the 4th quarter valued at about $9,364,000. Corient Private Wealth LLC increased its holdings in shares of HDFC Bank by 3.4% during the 4th quarter. Corient Private Wealth LLC now owns 64,129 shares of the bank’s stock worth $2,343,000 after buying an additional 2,089 shares during the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of HDFC Bank in the 4th quarter worth $19,364,000. Ovata Capital Management Ltd acquired a new position in HDFC Bank in the fourth quarter valued at $10,022,000. Finally, Caitong International Asset Management Co. Ltd grew its position in HDFC Bank by 736.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,415 shares of the bank’s stock valued at $381,000 after acquiring an additional 9,170 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 3.0%

Shares of HDFC Bank stock traded up $0.77 during mid-day trading on Wednesday, hitting $25.89. 13,074,611 shares of the stock were exchanged, compared to its average volume of 8,371,499. The company has a 50-day simple moving average of $31.32 and a 200 day simple moving average of $34.10. The stock has a market capitalization of $132.05 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. HDFC Bank has a twelve month low of $24.74 and a twelve month high of $39.81.

Analyst Ratings Changes

Several brokerages have issued reports on HDB. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. 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. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

About HDFC Bank

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).