Helios Capital Management PTE. Ltd. Trims Stock Position in HDFC Bank Limited $HDB

Helios Capital Management PTE. Ltd. trimmed its position in shares of HDFC Bank Limited (NYSE:HDB) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,400 shares of the bank’s stock after selling 50,000 shares during the period. HDFC Bank makes up approximately 7.5% of Helios Capital Management PTE. Ltd.’s holdings, making the stock its 4th biggest holding. Helios Capital Management PTE. Ltd.’s holdings in HDFC Bank were worth $7,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HDB. GQG Partners LLC increased its position in HDFC Bank by 1.5% in the fourth quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock worth $1,935,258,000 after purchasing an additional 777,977 shares during the last quarter. Royal Bank of Canada lifted its position in HDFC Bank by 31.0% during the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after purchasing an additional 9,451,992 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of HDFC Bank by 4.1% in the 4th quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock worth $959,713,000 after buying an additional 1,043,596 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of HDFC Bank by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock worth $749,239,000 after buying an additional 1,299,851 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of HDFC Bank by 16,808.5% in the 1st quarter. Principal Financial Group Inc. now owns 17,977,844 shares of the bank’s stock worth $447,289,000 after buying an additional 17,871,520 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $87,200.00. Following the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This represents a 1.54% 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 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

HDB has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, HDFC Bank currently has a consensus rating of “Sell”.

HDFC Bank Stock Down 1.7%

NYSE HDB opened at $25.96 on Wednesday. The company has a fifty day moving average of $24.87 and a two-hundred day moving average of $28.32. The firm has a market capitalization of $132.46 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.23 and a beta of 0.64. HDFC Bank Limited has a 52 week low of $22.91 and a 52 week high of $39.81.

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).