Employees Retirement System of Texas Sells 93,138 Shares of HDFC Bank Limited $HDB

Employees Retirement System of Texas lowered its position in HDFC Bank Limited (NYSE:HDB) by 45.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,672 shares of the bank’s stock after selling 93,138 shares during the period. Employees Retirement System of Texas’ holdings in HDFC Bank were worth $4,007,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group raised its position in shares of HDFC Bank by 137.6% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its position in shares of HDFC Bank by 104.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,204,783 shares of the bank’s stock worth $656,035,000 after acquiring an additional 9,808,890 shares in the last quarter. Franklin Resources Inc. raised its position in shares of HDFC Bank by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after acquiring an additional 7,147,440 shares in the last quarter. Wellington Management Group LLP raised its position in shares of HDFC Bank by 94.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock worth $449,381,000 after acquiring an additional 6,386,002 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of HDFC Bank by 6.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,392,854 shares of the bank’s stock worth $452,835,000 after acquiring an additional 791,226 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 4.2%

HDB stock opened at $23.76 on Thursday. HDFC Bank Limited has a twelve month low of $23.66 and a twelve month high of $39.81. The firm has a market cap of $121.20 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.68. The business has a 50 day moving average of $25.46 and a 200 day moving average of $30.97.

Insider Buying and Selling

In related news, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares of the company’s stock, valued at $7,586,108.52. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the firm’s 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 transaction, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,600 shares of company stock valued at $271,660. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average 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).