N Srinivasan Sells 10,000 Shares of HDFC Bank (NYSE:HDB) Stock

HDFC Bank Limited (NYSE:HDB) insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $8.21, for a total transaction of $82,100.00. Following the transaction, the insider owned 648,422 shares in the company, valued at $5,323,544.62. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $25.78 on Thursday. The company has a market cap of $131.50 billion, a P/E ratio of 15.48, a PEG ratio of 1.05 and a beta of 0.56. HDFC Bank Limited has a 1 year low of $24.74 and a 1 year high of $39.81. The firm has a 50-day simple moving average of $31.18 and a two-hundred day simple moving average of $34.05.

Analysts Set New Price Targets

Several equities analysts have commented on HDB shares. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

Hedge Funds Weigh In On HDFC Bank

A number of institutional investors have recently modified their holdings of the stock. Hudson Edge Investment Partners Inc. boosted its holdings in shares of HDFC Bank by 100.6% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 1,506,200 shares of the bank’s stock valued at $51,452,000 after buying an additional 755,200 shares in the last quarter. Jacobson & Schmitt Advisors LLC raised its stake in shares of HDFC Bank by 97.7% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 383,137 shares of the bank’s stock worth $13,088,000 after acquiring an additional 189,303 shares in the last quarter. ABN Amro Investment Solutions raised its stake in shares of HDFC Bank by 100.0% during the 3rd quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock worth $7,141,000 after acquiring an additional 104,525 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in HDFC Bank by 102.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,369,307 shares of the bank’s stock valued at $80,936,000 after acquiring an additional 1,199,084 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in HDFC Bank by 77.3% in the third quarter. Impax Asset Management Group plc now owns 1,687,380 shares of the bank’s stock valued at $57,641,000 after acquiring an additional 735,409 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

About HDFC Bank

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).