Ovata Capital Management Ltd purchased a new position in HDFC Bank Limited (NYSE:HDB – Free Report) in the 4th quarter, HoldingsChannel reports. The fund purchased 277,332 shares of the bank’s stock, valued at approximately $10,022,000. HDFC Bank comprises approximately 1.9% of Ovata Capital Management Ltd’s holdings, making the stock its 13th biggest position.
Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of HDFC Bank by 90.4% in the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after acquiring an additional 403 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after acquiring an additional 739 shares in the last quarter. Accent Capital Management LLC grew its stake in shares of HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after acquiring an additional 459 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of HDFC Bank in the second quarter worth $75,000. Finally, Pin Oak Investment Advisors Inc. grew its stake in shares of HDFC Bank by 100.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.
Insider Buying and Selling at HDFC Bank
In other 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 value of $87,200.00. Following the completion of the sale, 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction dated 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 directly owned 848,558 shares of the company’s stock, 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 31,600 shares of company stock valued at $271,660 in the last 90 days. 1.00% of the stock is currently owned by insiders.
HDFC Bank Price Performance
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.
Check Out Our Latest Analysis on HDFC Bank
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).
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