BI Asset Management Fondsmaeglerselskab A S Has $10.25 Million Stake in HDFC Bank Limited $HDB

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of HDFC Bank Limited (NYSE:HDB) by 47.1% in the first quarter, HoldingsChannel.com reports. The firm owned 411,928 shares of the bank’s stock after selling 366,516 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in HDFC Bank were worth $10,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ARP Global Capital Ltd purchased a new stake in HDFC Bank in the 4th quarter valued at $9,364,000. Corient Private Wealth LLC grew its stake in shares of HDFC Bank by 3.4% in the 4th quarter. Corient Private Wealth LLC now owns 64,129 shares of the bank’s stock worth $2,343,000 after acquiring an additional 2,089 shares in the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $19,364,000. Ovata Capital Management Ltd purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $10,022,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of HDFC Bank by 736.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,415 shares of the bank’s stock valued at $381,000 after purchasing an additional 9,170 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HDFC Bank

In related news, insider Ashish Parthasarthy sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total transaction of $48,720.00. Following the completion of the sale, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider N Srinivasan sold 10,000 shares of HDFC Bank stock in a transaction dated 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 sale, the insider directly owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,600 shares of company stock valued at $189,560. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

HDFC Bank Trading Up 0.2%

Shares of HDFC Bank stock opened at $25.11 on Monday. The business’s fifty day simple moving average is $24.94 and its 200 day simple moving average is $29.48. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month high of $39.81. The firm has a market capitalization of $128.08 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.40 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).