HDFC Bank Sees Unusually Large Options Volume (NYSE:HDB)

HDFC Bank Limited (NYSE:HDB) saw unusually large options trading on Wednesday. Traders bought 8,986 call options on the company. This represents an increase of 1,879% compared to the average volume of 454 call options.

Insider Activity at HDFC Bank

In related 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 sale, the insider directly owned 648,422 shares in the company, valued at $5,323,544.62. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HDFC Bank

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

HDFC Bank Stock Performance

HDFC Bank stock opened at $25.78 on Thursday. The stock’s 50 day moving average price is $31.18 and its 200 day moving average price is $34.05. HDFC Bank has a one year low of $24.74 and a one year high of $39.81. The firm has a market capitalization of $131.50 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.05 and a beta of 0.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HDB shares. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report 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 analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

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).