Pzena Investment Management LLC cut its holdings in HDFC Bank Limited (NYSE:HDB – Free Report) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 838,448 shares of the bank’s stock after selling 20,719 shares during the period. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $30,637,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in HDB. NewEdge Advisors LLC raised its stake in HDFC Bank by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after purchasing an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after purchasing an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC raised its stake in HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock valued at $601,000 after purchasing an additional 1,541 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank’s stock valued at $114,000 after purchasing an additional 1,221 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in HDFC Bank by 29.3% in the 2nd quarter. First Trust Advisors LP now owns 51,551 shares of the bank’s stock valued at $3,952,000 after purchasing an additional 11,689 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.
Analyst Ratings Changes
HDB has been the subject of several analyst reports. Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.
Insider Buying and Selling
In related news, insider N Srinivasan sold 10,000 shares of the stock in a transaction that occurred 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 approximately $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 842,958 shares of the company’s stock, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 31,600 shares of company stock valued at $271,660. Corporate insiders own 1.00% of the company’s stock.
HDFC Bank Stock Performance
HDB opened at $24.62 on Friday. The firm has a 50 day moving average price of $25.78 and a 200 day moving average price of $31.30. The company has a market cap of $125.59 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.68. HDFC Bank Limited has a 1 year low of $23.75 and a 1 year 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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