Collaborative Fund Advisors LLC Buys New Shares in HDFC Bank Limited $HDB

Collaborative Fund Advisors LLC purchased a new stake in HDFC Bank Limited (NYSE:HDB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,399 shares of the bank’s stock, valued at approximately $1,080,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HDB. Larson Financial Group LLC grew its position in 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 in the last quarter. Cary Street Partners Financial LLC bought a new position in HDFC Bank during the second quarter valued at about $75,000. Pin Oak Investment Advisors Inc. raised its holdings in HDFC Bank by 100.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after acquiring an additional 498 shares in the last quarter. Graney & King LLC raised its holdings in HDFC Bank by 100.0% in the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after acquiring an additional 600 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of HDFC Bank in the 3rd quarter worth approximately $43,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HDFC Bank

In other 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 value of $87,200.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ashish Parthasarthy sold 6,000 shares of the stock in a transaction that occurred 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 approximately $7,586,108.52. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,600 shares of company stock valued at $189,560. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

HDB has been the topic of several recent research reports. Zacks Research lowered 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 research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Sell”.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $25.75 on Monday. The firm’s 50-day simple moving average is $24.70 and its 200-day simple moving average is $28.77. HDFC Bank Limited has a twelve month low of $22.91 and a twelve month high of $39.81. The firm has a market cap of $131.39 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64.

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).