Bessemer Group Inc. Has $40.53 Million Stake in HDFC Bank Limited $HDB

Bessemer Group Inc. reduced its position in HDFC Bank Limited (NYSE:HDB) by 53.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,628,845 shares of the bank’s stock after selling 1,891,698 shares during the quarter. Bessemer Group Inc.’s holdings in HDFC Bank were worth $40,526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Snowden Capital Advisors LLC increased its holdings in HDFC Bank by 5.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after buying an additional 311 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of HDFC Bank by 0.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock valued at $2,711,000 after buying an additional 345 shares in the last quarter. Flputnam Investment Management Co. lifted its holdings in shares of HDFC Bank by 2.6% during the 4th quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after acquiring an additional 361 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in shares of HDFC Bank by 19.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after acquiring an additional 384 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of HDFC Bank by 3.0% during the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock worth $493,000 after acquiring an additional 397 shares during the period. 17.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on HDB. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Finally, Zacks Research downgraded HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $26.36 on Friday. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81. The company’s fifty day moving average is $24.92 and its 200-day moving average is $28.16. The company has a market capitalization of $134.50 billion, a PE ratio of 15.79, a P/E/G ratio of 1.22 and a beta of 0.64.

Insider Transactions at HDFC Bank

In related news, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider directly owned 842,958 shares of the company’s stock, valued at $7,333,734.60. This trade represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the business’s 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 completion of the transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,600 shares of company stock valued at $189,560 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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).