Deprince Race & Zollo Inc. Cuts Position in HDFC Bank Limited $HDB

Deprince Race & Zollo Inc. lowered its holdings in HDFC Bank Limited (NYSE:HDB) by 28.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 237,344 shares of the bank’s stock after selling 92,223 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in HDFC Bank were worth $5,905,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after purchasing an additional 403 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after buying an additional 1,002 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in HDFC Bank by 100.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after buying an additional 498 shares in the last quarter. Graney & King LLC grew its position in HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after buying an additional 600 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in HDFC Bank during the third quarter worth about $43,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider N Srinivasan sold 10,000 shares of the company’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 value of $87,200.00. Following the sale, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’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 value of $53,640.00. Following the completion of the sale, the insider directly owned 848,558 shares in the company, valued at approximately $7,586,108.52. The trade was a 0.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,600 shares of company stock valued at $189,560. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HDB. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

HDFC Bank Trading Up 0.8%

Shares of HDB opened at $25.75 on Friday. 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 $131.39 billion, a P/E ratio of 15.42, a PEG ratio of 1.18 and a beta of 0.64. The company has a 50-day moving average of $24.71 and a two-hundred day moving average of $28.84.

HDFC Bank Company 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).