Union Bancaire Privee UBP SA Reduces Position in HDFC Bank Limited $HDB

Union Bancaire Privee UBP SA trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 72.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,116 shares of the bank’s stock after selling 29,536 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in HDFC Bank were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. PineStone Asset Management Inc. raised its stake in HDFC Bank by 1.9% during the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after buying an additional 151,992 shares during the last quarter. M&T Bank Corp boosted its stake in shares of HDFC Bank by 788.3% in the 4th 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 during the last quarter. Matthews International Capital Management LLC boosted its stake in shares of HDFC Bank by 58.3% in the 4th quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock worth $12,567,000 after buying an additional 126,650 shares during the last quarter. Boston Common Asset Management LLC grew its holdings in shares of HDFC Bank by 80.9% in the fourth quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock worth $56,181,000 after acquiring an additional 687,812 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of HDFC Bank by 137.6% in the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after acquiring an additional 14,606,422 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.1%

Shares of HDB stock opened at $25.72 on Monday. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81. The stock has a market cap of $131.19 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 0.65. The company has a 50 day simple moving average of $24.79 and a two-hundred day simple moving average of $29.12.

Wall Street Analyst Weigh In

A number of analysts recently commented on HDB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,600 shares of company stock valued at $189,560. Insiders own 1.00% of the company’s stock.

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).