Ovata Capital Management Ltd Buys New Shares in HDFC Bank Limited $HDB

Ovata Capital Management Ltd bought a new position in HDFC Bank Limited (NYSE:HDB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 277,332 shares of the bank’s stock, valued at approximately $10,022,000. HDFC Bank accounts for about 1.2% of Ovata Capital Management Ltd’s holdings, making the stock its 20th largest holding.

A number of other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC increased its stake in HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares in the last quarter. Accent Capital Management LLC lifted its position 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 acquiring an additional 459 shares in the last quarter. Clearstead Advisors LLC lifted its position 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 acquiring an additional 739 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted 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 worth $34,000 after acquiring an additional 498 shares during the period. Finally, Graney & King LLC boosted its stake in shares of HDFC Bank by 100.0% in the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Insiders Place Their Bets

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the sale, the insider owned 842,958 shares in the company, valued at $7,333,734.60. The trade was a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,600 shares of company stock worth $271,660. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $25.11 on Friday. The firm has a fifty day moving average price of $24.94 and a 200 day moving average price of $29.52. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The firm has a market cap of $128.08 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.40 and a beta of 0.65.

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).