Rockefeller Capital Management L.P. cut its holdings in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 59.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,117 shares of the bank’s stock after selling 66,021 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in HDFC Bank were worth $1,612,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GQG Partners LLC increased its stake in shares of HDFC Bank by 1.5% during the 4th quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock valued at $1,935,258,000 after acquiring an additional 777,977 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of HDFC Bank by 31.0% during the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock worth $1,457,865,000 after acquiring an additional 9,451,992 shares during the period. Schroder Investment Management Group boosted its position in shares of HDFC Bank by 4.1% in the fourth quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock worth $959,713,000 after acquiring an additional 1,043,596 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of HDFC Bank by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock worth $749,239,000 after acquiring an additional 1,299,851 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in HDFC Bank by 106.1% in the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock valued at $474,310,000 after purchasing an additional 7,147,440 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.
Insiders Place Their Bets
In related news, 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 sale, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. The trade was a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the transaction, the insider owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,600 shares of company stock valued at $189,560. Company insiders own 1.00% of the company’s stock.
HDFC Bank Stock Down 0.2%
HDB opened at $25.85 on Wednesday. The firm has a market capitalization of $131.86 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.20 and a beta of 0.65. The firm’s 50 day moving average is $24.74 and its 200-day moving average is $28.98. 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).
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Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB – Free Report).
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