HDFC Bank Target of Unusually High Options Trading (NYSE:HDB)

HDFC Bank Limited (NYSE:HDB) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 8,986 call options on the company. This is an increase of approximately 1,879% compared to the average daily volume of 454 call options.

HDFC Bank Price Performance

HDB opened at $25.12 on Friday. The company has a 50 day simple moving average of $31.03 and a two-hundred day simple moving average of $33.98. The firm has a market cap of $128.12 billion, a P/E ratio of 15.08, a PEG ratio of 1.07 and a beta of 0.56. HDFC Bank has a 1-year low of $24.74 and a 1-year high of $39.81.

Analyst Upgrades and Downgrades

HDB has been the topic of several analyst reports. Wall Street Zen upgraded 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 note on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank presently has an average rating of “Reduce”.

Insider Activity

In other news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $8.21, for a total value of $82,100.00. Following the completion of the sale, the insider directly owned 648,422 shares in the company, valued at $5,323,544.62. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HDFC Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. Hudson Edge Investment Partners Inc. boosted its stake in 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 worth $51,452,000 after purchasing an additional 755,200 shares during the period. Jacobson & Schmitt Advisors LLC raised its position in shares of 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 during the last quarter. ABN Amro Investment Solutions raised its position in shares of HDFC Bank by 100.0% during the third quarter. ABN Amro Investment Solutions now owns 209,050 shares of the bank’s stock valued at $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 shares of HDFC Bank by 102.5% in the third 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 in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of 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 worth $57,641,000 after buying an additional 735,409 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

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).