HDFC Bank Limited $HDB Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its stake in HDFC Bank Limited (NYSE:HDB) by 20.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 778,444 shares of the bank’s stock after selling 202,876 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in HDFC Bank were worth $28,444,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Snowden Capital Advisors LLC raised its holdings in HDFC Bank by 5.8% in the second 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 in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of HDFC Bank by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 74,198 shares of the bank’s stock worth $2,711,000 after acquiring an additional 345 shares during the last quarter. Flputnam Investment Management Co. grew its position in 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 buying an additional 361 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in 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 buying an additional 384 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in HDFC Bank by 3.0% in the 4th quarter. Sivia Capital Partners LLC now owns 13,492 shares of the bank’s stock valued at $493,000 after buying an additional 397 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HDFC Bank

In related news, insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider directly owned 848,558 shares of the company’s stock, valued at $7,586,108.52. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the transaction, the insider directly owned 638,422 shares of the company’s stock, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 31,600 shares of company stock worth $271,660. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, HDFC Bank currently has an average rating of “Reduce”.

HDFC Bank Stock Performance

NYSE:HDB opened at $23.39 on Friday. HDFC Bank Limited has a 52 week low of $23.31 and a 52 week high of $39.81. The stock’s 50 day moving average price is $25.11 and its 200 day moving average price is $30.39. The company has a market capitalization of $119.33 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.11 and a beta of 0.65.

HDFC Bank 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).