Explore Capital Management LLC Has $3.55 Million Stake in HDFC Bank Limited $HDB

Explore Capital Management LLC decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 67.5% in the 4th quarter, Holdings Channel reports. The fund owned 97,060 shares of the bank’s stock after selling 201,800 shares during the period. HDFC Bank accounts for 2.9% of Explore Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Explore Capital Management LLC’s holdings in HDFC Bank were worth $3,547,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in HDFC Bank by 90.4% during the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after acquiring an additional 403 shares in the last quarter. Clearstead Advisors LLC increased its stake in shares of HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after buying an additional 739 shares during the period. Accent Capital Management LLC increased its stake in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after buying an additional 459 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of HDFC Bank in the second quarter valued at approximately $75,000. Finally, Pin Oak Investment Advisors Inc. increased its stake in shares of HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 issued a Sell rating to the stock. According to data from MarketBeat, HDFC Bank presently has a consensus rating of “Reduce”.

Insider Buying and Selling

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,600 shares of company stock valued at $271,660 in the last three months. Insiders own 1.00% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $24.05 on Friday. The company has a market capitalization of $122.67 billion, a PE ratio of 14.40, a P/E/G ratio of 1.09 and a beta of 0.65. The company has a 50 day simple moving average of $25.16 and a two-hundred day simple moving average of $30.44. HDFC Bank Limited has a fifty-two week low of $23.31 and a fifty-two week high of $39.81.

HDFC Bank 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).