Strs Ohio Takes Position in HDFC Bank Limited $HDB

Strs Ohio acquired a new stake in HDFC Bank Limited (NYSE:HDB) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 500,000 shares of the bank’s stock, valued at approximately $12,440,000.

Other large investors have also bought and sold shares of the company. Keybank National Association OH boosted its holdings in shares of HDFC Bank by 3.3% in the first quarter. Keybank National Association OH now owns 72,003 shares of the bank’s stock valued at $1,791,000 after buying an additional 2,304 shares during the period. Pzena Investment Management LLC raised its holdings in shares of HDFC Bank by 81.2% during the first quarter. Pzena Investment Management LLC now owns 1,519,501 shares of the bank’s stock worth $37,805,000 after acquiring an additional 681,053 shares during the period. Deltec Asset Management LLC raised its holdings in shares of HDFC Bank by 19.3% during the first quarter. Deltec Asset Management LLC now owns 56,300 shares of the bank’s stock worth $1,401,000 after acquiring an additional 9,100 shares during the period. Trinity Street Asset Management LLP lifted its position in HDFC Bank by 27.3% in the 1st quarter. Trinity Street Asset Management LLP now owns 7,724,700 shares of the bank’s stock valued at $192,191,000 after acquiring an additional 1,657,700 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in HDFC Bank by 10.3% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 74,889 shares of the bank’s stock valued at $1,863,000 after acquiring an additional 6,985 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Ashish Parthasarthy sold 5,600 shares of the 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 transaction, the insider directly owned 842,958 shares in the company, valued at $7,333,734.60. This represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider N Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total value 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. The trade was a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,600 shares of company stock worth $189,560 over the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HDB shares. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

HDFC Bank Stock Down 0.1%

Shares of HDB stock opened at $25.75 on Friday. The company’s fifty day simple moving average is $24.70 and its 200-day simple moving average is $28.82. The firm has a market cap of $131.39 billion, a PE ratio of 15.42, a P/E/G ratio of 1.19 and a beta of 0.64. HDFC Bank Limited has a 12 month low of $22.91 and a 12 month 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).