HDFC Bank (NYSE:HDB) Insider N Srinivasan Sells 10,000 Shares

HDFC Bank Limited (NYSE:HDB) insider N Srinivasan sold 10,000 shares of HDFC Bank 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

N Srinivasan also recently made the following trade(s):

• On Monday, March 23rd, N Srinivasan sold 10,000 shares of HDFC Bank stock. The stock was sold at an average price of $8.21, for a total value of $82,100.00.

HDFC Bank Trading Up 0.1%

Shares of NYSE HDB opened at $25.67 on Friday. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81. The company has a market cap of $130.93 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. The stock’s 50 day simple moving average is $27.06 and its 200 day simple moving average is $32.17.

Hedge Funds Weigh In On HDFC Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HDB. Larson Financial Group LLC boosted its position in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after acquiring an additional 403 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after purchasing an additional 322 shares in the last quarter. Accent Capital Management LLC grew 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 worth $31,000 after purchasing an additional 459 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after purchasing an additional 739 shares during the period. Finally, Bell Investment Advisors Inc increased its holdings in shares of HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,002 shares during the period. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HDB has been the topic of a number of recent research reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, HDFC Bank currently 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).