Pzena Investment Management LLC Decreases Stock Position in HDFC Bank Limited $HDB

Pzena Investment Management LLC lessened its stake in HDFC Bank Limited (NYSE:HDB) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 838,448 shares of the bank’s stock after selling 20,719 shares during the quarter. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $30,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PineStone Asset Management Inc. boosted its holdings in HDFC Bank by 1.9% in the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock worth $303,857,000 after acquiring an additional 151,992 shares during the period. Hudson Edge Investment Partners Inc. boosted its stake in shares of HDFC Bank by 100.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock valued at $51,452,000 after buying an additional 755,200 shares during the last quarter. Jacobson & Schmitt Advisors LLC boosted its stake in shares of HDFC Bank by 97.7% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock valued at $13,088,000 after buying an additional 189,303 shares during the last quarter. ABN Amro Investment Solutions boosted its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock valued at $7,141,000 after buying an additional 104,525 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of HDFC Bank by 788.3% during the 4th quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after buying an additional 102,166 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Insider Buying and Selling at HDFC Bank

In related news, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider directly owned 638,422 shares in the company, valued at $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the transaction, the insider owned 848,558 shares in the company, valued at $7,586,108.52. This trade represents a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,600 shares of company stock worth $271,660 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

HDFC Bank Price Performance

Shares of HDB opened at $24.62 on Friday. The business’s fifty day moving average price is $25.78 and its 200 day moving average price is $31.30. HDFC Bank Limited has a 12-month low of $23.75 and a 12-month high of $39.81. The stock has a market capitalization of $125.59 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HDB. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

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).