Pzena Investment Management LLC Buys 681,053 Shares of HDFC Bank Limited $HDB

Pzena Investment Management LLC grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 81.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,519,501 shares of the bank’s stock after purchasing an additional 681,053 shares during the quarter. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $37,805,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Deltec Asset Management LLC increased its holdings in HDFC Bank by 19.3% during the first quarter. Deltec Asset Management LLC now owns 56,300 shares of the bank’s stock worth $1,401,000 after buying an additional 9,100 shares during the last quarter. Trinity Street Asset Management LLP lifted its stake in HDFC Bank by 27.3% in the first quarter. Trinity Street Asset Management LLP now owns 7,724,700 shares of the bank’s stock valued at $192,191,000 after acquiring an additional 1,657,700 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ grew its position in shares of HDFC Bank by 10.3% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 74,889 shares of the bank’s stock valued at $1,863,000 after acquiring an additional 6,985 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of HDFC Bank by 1,473.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 266,812 shares of the bank’s stock worth $6,638,000 after purchasing an additional 249,854 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in shares of HDFC Bank by 23.6% during the 1st quarter. Aaron Wealth Advisors LLC now owns 37,132 shares of the bank’s stock worth $924,000 after purchasing an additional 7,102 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDB opened at $25.55 on Thursday. The company’s 50-day moving average is $24.72 and its 200-day moving average is $28.91. The firm has a market capitalization of $130.35 billion, a PE ratio of 15.30, a PEG ratio of 1.20 and a beta of 0.64. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81.

Insider Transactions at HDFC Bank

In other news, insider Ashish Parthasarthy sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, the insider owned 848,558 shares in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares in the company, valued at $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 21,600 shares of company stock worth $189,560. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, HDFC Bank has a consensus rating of “Sell”.

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).