HDFC Bank Limited $HDB Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its stake in HDFC Bank Limited (NYSE:HDB) by 740.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 280,763 shares of the bank’s stock after purchasing an additional 247,359 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in HDFC Bank were worth $6,985,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PineStone Asset Management Inc. lifted its stake in shares of 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. M&T Bank Corp boosted its holdings in shares of HDFC Bank by 788.3% in the fourth quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after acquiring an additional 102,166 shares in the last quarter. Matthews International Capital Management LLC increased its stake in shares of HDFC Bank by 58.3% during the fourth quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock worth $12,567,000 after acquiring an additional 126,650 shares during the period. Boston Common Asset Management LLC increased its stake in shares of HDFC Bank by 80.9% during the fourth quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock worth $56,181,000 after acquiring an additional 687,812 shares during the period. Finally, Schroder Investment Management Group raised its holdings in HDFC Bank by 137.6% during the third quarter. Schroder Investment Management Group now owns 25,221,130 shares of the bank’s stock worth $861,554,000 after purchasing an additional 14,606,422 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HDB. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

HDFC Bank Stock Performance

HDFC Bank stock opened at $25.75 on Friday. The company has a market cap of $131.39 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64. HDFC Bank Limited has a one year low of $22.91 and a one year high of $39.81. The business has a fifty day moving average of $24.70 and a two-hundred day moving average of $28.82.

Insider Transactions at HDFC Bank

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’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 transaction, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total transaction of $53,640.00. Following the transaction, the insider owned 848,558 shares in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,600 shares of company stock valued at $189,560 in the last quarter. Insiders own 1.00% of the company’s stock.

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).