Insider Selling: HDFC Bank (NYSE:HDB) Insider Sells $82,100.00 in Stock

HDFC Bank Limited (NYSE:HDB) insider N Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

HDFC Bank Price Performance

HDB stock opened at $25.12 on Friday. The business has a fifty day moving average price of $31.03 and a 200 day moving average price of $33.98. HDFC Bank Limited has a fifty-two week low of $24.74 and a fifty-two week high of $39.81. The stock has a market capitalization of $128.12 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.07 and a beta of 0.56.

Wall Street Analysts Forecast Growth

HDB has been the subject of a number of research analyst reports. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HDB. GQG Partners LLC raised its position in shares of HDFC Bank by 1.5% during the fourth quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock worth $1,935,258,000 after acquiring an additional 777,977 shares during the last quarter. Royal Bank of Canada boosted its holdings in HDFC Bank by 31.0% in the fourth quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after acquiring an additional 9,451,992 shares during the last quarter. Schroder Investment Management Group boosted its holdings in HDFC Bank by 4.1% in the fourth quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock valued at $959,713,000 after acquiring an additional 1,043,596 shares during the last quarter. JPMorgan Chase & Co. increased its position in HDFC Bank by 6.8% in the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock worth $749,239,000 after purchasing an additional 1,299,851 shares during the period. Finally, Franklin Resources Inc. increased its position in HDFC Bank by 106.1% in the third quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank’s stock worth $474,310,000 after purchasing an additional 7,147,440 shares during the period. 17.61% of the stock is currently owned by 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).