L1 Capital Pty Ltd Purchases New Shares in HDFC Bank Limited $HDB

L1 Capital Pty Ltd purchased a new stake in HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 503,481 shares of the bank’s stock, valued at approximately $18,397,000. HDFC Bank makes up approximately 1.0% of L1 Capital Pty Ltd’s portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. PineStone Asset Management Inc. grew its stake in HDFC Bank by 1.9% during the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock worth $303,857,000 after buying an additional 151,992 shares in the last quarter. Jacobson & Schmitt Advisors LLC grew its stake in HDFC Bank by 97.7% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock worth $13,088,000 after buying an additional 189,303 shares in the last quarter. M&T Bank Corp grew its stake in HDFC Bank by 788.3% during the fourth quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock worth $4,206,000 after buying an additional 102,166 shares in the last quarter. ABN Amro Investment Solutions grew its stake in HDFC Bank by 100.0% during the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after buying an additional 104,525 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in HDFC Bank by 102.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock worth $80,936,000 after buying an additional 1,199,084 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $24.15 on Friday. The company has a 50 day simple moving average of $25.00 and a 200 day simple moving average of $29.93. The firm has a market cap of $123.21 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.65. HDFC Bank Limited has a 1 year low of $22.91 and a 1 year high of $39.81.

Insider Buying and Selling

In other HDFC Bank news, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares in the company, valued at approximately $7,586,108.52. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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).