Hsbc Holdings PLC Trims Stock Position in HDFC Bank Limited $HDB

Hsbc Holdings PLC trimmed its stake in shares of HDFC Bank Limited (NYSE:HDB) by 30.6% in the fourth quarter, Holdings Channel reports. 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 filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in shares of HDFC Bank by 8.6% during the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock worth $776,000 after purchasing an additional 922 shares during the period. Goldman Sachs Group Inc. raised its position in HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock worth $58,723,000 after buying an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of HDFC Bank by 464.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock valued at $114,000 after acquiring an additional 1,221 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of HDFC Bank by 29.3% during the second quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock worth $3,952,000 after acquiring an additional 11,689 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE HDB opened at $25.75 on Friday. The business has a 50 day moving average price of $24.70 and a 200 day moving average price of $28.82. The company has a market capitalization of $131.39 billion, a P/E ratio of 15.42, a PEG ratio of 1.19 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $22.91 and a 1-year high of $39.81.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at HDFC Bank

In other HDFC Bank news, insider Ashish Parthasarthy sold 5,600 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total value of $48,720.00. Following the sale, the insider owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,600 shares of company stock worth $189,560 in the last three months. 1.00% of the stock is owned by corporate insiders.

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).