Banque Pictet & Cie SA Sells 41,179 Shares of HDFC Bank Limited $HDB

Banque Pictet & Cie SA trimmed its stake in HDFC Bank Limited (NYSE:HDB) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 228,910 shares of the bank’s stock after selling 41,179 shares during the quarter. Banque Pictet & Cie SA’s holdings in HDFC Bank were worth $8,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HDB. Bank Pictet & Cie Europe AG boosted its position in shares of HDFC Bank by 21.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 99,607 shares of the bank’s stock worth $3,640,000 after purchasing an additional 17,377 shares in the last quarter. PineStone Asset Management Inc. grew its stake in shares of HDFC Bank by 1.9% in the 4th quarter. PineStone Asset Management Inc. now owns 8,315,726 shares of the bank’s stock valued at $303,857,000 after buying an additional 151,992 shares during the period. Nisa Investment Advisors LLC increased its position in HDFC Bank by 2.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 29,982 shares of the bank’s stock valued at $1,096,000 after buying an additional 594 shares in the last quarter. Boston Common Asset Management LLC raised its stake in HDFC Bank by 80.9% during the 4th quarter. Boston Common Asset Management LLC now owns 1,537,511 shares of the bank’s stock worth $56,181,000 after buying an additional 687,812 shares during the period. Finally, J. Safra Sarasin Holding AG acquired a new position in HDFC Bank during the 4th quarter worth approximately $393,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HDB. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HDFC Bank currently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $8.21, for a total transaction of $82,100.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $24.92 on Thursday. The company has a 50-day moving average price of $30.40 and a 200-day moving average price of $33.68. The stock has a market capitalization of $127.13 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.02 and a beta of 0.67. HDFC Bank Limited has a 1 year low of $23.91 and a 1 year high of $39.81.

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).