Employees Retirement System of Texas Sells 93,138 Shares of HDFC Bank Limited $HDB

Employees Retirement System of Texas lessened its stake in HDFC Bank Limited (NYSE:HDB) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,672 shares of the bank’s stock after selling 93,138 shares during the period. Employees Retirement System of Texas’ holdings in HDFC Bank were worth $4,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Snowden Capital Advisors LLC lifted its stake in shares of HDFC Bank by 5.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after acquiring an additional 311 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of HDFC Bank by 0.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock valued at $2,711,000 after acquiring an additional 345 shares during the last quarter. Flputnam Investment Management Co. lifted its stake in shares of HDFC Bank by 2.6% in the 4th quarter. Flputnam Investment Management Co. now owns 14,363 shares of the bank’s stock valued at $525,000 after acquiring an additional 361 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of HDFC Bank by 19.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 2,330 shares of the bank’s stock valued at $85,000 after acquiring an additional 384 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC lifted its stake in shares of HDFC Bank by 0.8% in the 4th quarter. Figure 8 Investment Strategies LLC now owns 48,510 shares of the bank’s stock valued at $1,773,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Insider Buying and Selling

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the transaction, the insider owned 638,422 shares of the company’s stock, valued at $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the transaction, the insider directly owned 848,558 shares of the company’s stock, valued at $7,586,108.52. The trade was a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,600 shares of company stock valued at $271,660 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note 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. Based on data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Reduce”.

HDFC Bank Price Performance

HDB opened at $23.76 on Thursday. The business has a 50 day simple moving average of $25.46 and a two-hundred day simple moving average of $30.97. The firm has a market capitalization of $121.20 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.15 and a beta of 0.68. HDFC Bank Limited has a one year low of $23.66 and a one 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).