Fiera Capital Corp Sells 706,391 Shares of HDFC Bank Limited $HDB

Fiera Capital Corp lessened its stake in shares of HDFC Bank Limited (NYSE:HDB) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,514,965 shares of the bank’s stock after selling 706,391 shares during the quarter. HDFC Bank makes up 1.0% of Fiera Capital Corp’s holdings, making the stock its 29th biggest holding. Fiera Capital Corp owned approximately 0.17% of HDFC Bank worth $311,137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HDB. Larson Financial Group LLC grew its stake in shares of HDFC Bank by 90.4% during the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after buying an additional 403 shares during the last quarter. Accent Capital Management LLC grew its stake in shares of HDFC Bank by 100.0% during the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after buying an additional 459 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after buying an additional 739 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of HDFC Bank by 100.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock worth $34,000 after buying an additional 498 shares during the last quarter. Finally, Graney & King LLC grew its stake in shares of HDFC Bank by 100.0% during the third quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock worth $41,000 after buying an additional 600 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

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

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $23.39 on Monday. The firm has a market cap of $119.33 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.65. The firm’s fifty day moving average is $25.11 and its 200-day moving average is $30.35. HDFC Bank Limited has a 52 week low of $23.31 and a 52 week high of $39.81.

Insiders Place Their Bets

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

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).