HDFC Bank Limited $HDB Shares Bought by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. lifted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 36.0% in the first quarter, Holdings Channel.com reports. The fund owned 2,033,200 shares of the bank’s stock after acquiring an additional 538,200 shares during the quarter. HDFC Bank makes up approximately 7.4% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 4th biggest position. Hudson Edge Investment Partners Inc.’s holdings in HDFC Bank were worth $50,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Snowden Capital Advisors LLC increased its position in HDFC Bank by 5.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after purchasing an additional 311 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of HDFC Bank by 0.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after purchasing an additional 345 shares during the period. Flputnam Investment Management Co. lifted its position in shares of HDFC Bank by 2.6% in the 4th quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock worth $525,000 after purchasing an additional 361 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of HDFC Bank by 19.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock worth $85,000 after purchasing an additional 384 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in shares of HDFC Bank by 3.0% in the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock valued at $493,000 after purchasing an additional 397 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Price Performance

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Insider Buying and Selling

In other news, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction 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 completion of the sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,600 shares of company stock worth $189,560 over the last 90 days. Company 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).