HDFC Bank Limited $HDB Shares Acquired by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. increased its stake in HDFC Bank Limited (NYSE:HDB) by 29.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 403,000 shares of the bank’s stock after acquiring an additional 91,000 shares during the period. HDFC Bank makes up 1.3% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 27th largest position. Nicola Wealth Management LTD.’s holdings in HDFC Bank were worth $14,726,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. PineStone Asset Management Inc. lifted its position in HDFC Bank by 1.9% during the fourth quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after buying an additional 151,992 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its position in HDFC Bank by 97.7% during the third 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 in the last quarter. ABN Amro Investment Solutions lifted its position in HDFC Bank by 100.0% during the third 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 in the last quarter. M&T Bank Corp lifted its position in HDFC Bank by 788.3% during the fourth 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in HDFC Bank by 102.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock valued at $80,936,000 after buying an additional 1,199,084 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Up 0.0%

HDB opened at $24.75 on Monday. The firm has a market capitalization of $126.24 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.15 and a beta of 0.68. The firm’s 50 day moving average is $25.71 and its 200-day moving average is $31.22. HDFC Bank Limited has a 52-week low of $23.75 and a 52-week high of $39.81.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, HDFC Bank presently has a consensus rating of “Reduce”.

Insider Buying and Selling

In other news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashish Parthasarthy sold 5,600 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the sale, the insider owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,600 shares of company stock worth $271,660 in the last quarter. Insiders own 1.00% of the company’s stock.

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).