Janus Henderson Group PLC decreased its stake in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 72.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 397,127 shares of the bank’s stock after selling 1,050,980 shares during the quarter. Janus Henderson Group PLC’s holdings in HDFC Bank were worth $9,879,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in HDB. GQG Partners LLC raised 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 worth $1,935,258,000 after purchasing an additional 777,977 shares in the last quarter. Royal Bank of Canada grew its stake in shares of HDFC Bank by 6.3% in the first quarter. Royal Bank of Canada now owns 42,418,483 shares of the bank’s stock valued at $1,055,372,000 after buying an additional 2,520,716 shares in the last quarter. Schroder Investment Management Group grew its stake 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 valued at $959,713,000 after buying an additional 1,043,596 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in HDFC Bank by 6.8% during the fourth 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 during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in HDFC Bank by 16,808.5% during the first 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. Institutional investors and hedge funds own 17.61% of the company’s stock.
HDFC Bank Trading Down 0.9%
HDB stock opened at $23.89 on Wednesday. The firm has a market capitalization of $121.90 billion, a PE ratio of 14.06, a PEG ratio of 1.14 and a beta of 0.65. HDFC Bank Limited has a 1-year low of $22.66 and a 1-year high of $38.30. The business’s 50 day simple moving average is $24.72 and its 200 day simple moving average is $27.19.
Insider Transactions at HDFC Bank
In other news, insider N Srinivasan sold 10,000 shares of the business’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 owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have commented on HDB. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, HDFC Bank presently has an average rating of “Hold”.
Get Our Latest Stock Report on HDB
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).
Featured Articles
- Five stocks we like better than HDFC Bank
- System Upgrade: First Internet Bancorp Options Surge
- AI Security Breaches Raise New Risks for Microsoft and Amazon’s Agent Push
- The AI Chip Blockade Is Creating a Shadow Market
- Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter
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).
Receive News & Ratings for HDFC Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank and related companies with MarketBeat.com's FREE daily email newsletter.
