Hsbc Holdings PLC Cuts Stock Holdings in HDFC Bank Limited $HDB

Hsbc Holdings PLC trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 30.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,156,321 shares of the bank’s stock after selling 950,526 shares during the period. Hsbc Holdings PLC’s holdings in HDFC Bank were worth $77,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC grew its stake in HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after acquiring an additional 739 shares during the last quarter. Accent Capital Management LLC lifted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after acquiring an additional 459 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in HDFC Bank in the second quarter worth $75,000. Finally, Pin Oak Investment Advisors Inc. grew its position in HDFC Bank by 100.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after acquiring an additional 498 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $25.06 on Tuesday. HDFC Bank Limited has a 52-week low of $22.91 and a 52-week high of $39.81. The stock has a market capitalization of $127.86 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The company has a fifty day moving average of $24.90 and a 200-day moving average of $29.41.

Insider Activity

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the company’s 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 sale, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction dated 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 transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 21,600 shares of company stock valued at $189,560. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, HDFC Bank presently has an average rating of “Reduce”.

HDFC Bank 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).