HDFC Bank Limited $HDB Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of HDFC Bank Limited (NYSE:HDB) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 552,724 shares of the bank’s stock after selling 23,911 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in HDFC Bank were worth $13,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GQG Partners LLC increased its stake in HDFC Bank by 1.5% during the 4th quarter. GQG Partners LLC now owns 52,962,709 shares of the bank’s stock worth $1,935,258,000 after buying an additional 777,977 shares during the period. Royal Bank of Canada boosted its position in HDFC Bank by 31.0% in the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank’s stock valued at $1,457,865,000 after buying an additional 9,451,992 shares during the last quarter. Schroder Investment Management Group boosted its position in HDFC Bank by 4.1% in the 4th quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank’s stock valued at $959,713,000 after buying an additional 1,043,596 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of HDFC Bank by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank’s stock valued at $749,239,000 after acquiring an additional 1,299,851 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of HDFC Bank by 94.3% during the third quarter. Wellington Management Group LLP now owns 13,155,196 shares of the bank’s stock valued at $449,381,000 after acquiring an additional 6,386,002 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDB opened at $26.39 on Tuesday. The stock has a market capitalization of $134.64 billion, a PE ratio of 15.80, a P/E/G ratio of 1.23 and a beta of 0.64. The firm’s fifty day moving average price is $24.85 and its 200 day moving average price is $28.39. HDFC Bank Limited has a 12-month low of $22.91 and a 12-month high of $39.81.

Insider Buying and Selling at HDFC Bank

In other news, insider Ashish Parthasarthy sold 6,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the sale, the insider 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $8.72, for a total transaction of $87,200.00. Following the completion of the sale, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 21,600 shares of company stock valued at $189,560. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on HDB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of HDFC Bank in a research note on Wednesday, June 3rd. Zacks Research lowered HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, HDFC Bank presently has an average rating of “Sell”.

About HDFC Bank

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).