Aberdeen Group plc Buys 396,336 Shares of HDFC Bank Limited $HDB

Aberdeen Group plc raised its position in shares of HDFC Bank Limited (NYSE:HDB) by 35.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,517,149 shares of the bank’s stock after purchasing an additional 396,336 shares during the period. Aberdeen Group plc’s holdings in HDFC Bank were worth $55,437,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC grew its holdings in HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after purchasing an additional 311 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after buying an additional 322 shares during the period. Central Pacific Bank Trust Division raised its stake in HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares during the period. Larson Financial Group LLC raised its stake in HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after acquiring an additional 403 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in HDFC Bank by 0.9% during the second quarter. Captrust Financial Advisors now owns 48,685 shares of the bank’s stock valued at $3,733,000 after purchasing an additional 418 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.0%

NYSE HDB opened at $24.84 on Friday. The company has a 50-day simple moving average of $30.11 and a two-hundred day simple moving average of $33.54. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81. The firm has a market cap of $126.72 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.89 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HDB shares. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, HDFC Bank has an average rating of “Reduce”.

Insider Activity

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $8.21, for a total value of $82,100.00. Following the transaction, the insider owned 648,422 shares in the company, valued at approximately $5,323,544.62. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

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).