HDFC Bank (NYSE:HDB) Downgraded to “Sell” Rating by Wall Street Zen

HDFC Bank (NYSE:HDB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

HDB has been the subject of a number of other reports. Weiss Ratings restated a “sell (d+)” rating on shares of HDFC Bank in a report on Wednesday, June 3rd. Zacks Research cut HDFC Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, HDFC Bank currently has an average rating of “Sell”.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $26.36 on Friday. The stock has a market cap of $134.50 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.22 and a beta of 0.64. The firm has a 50 day moving average price of $24.92 and a two-hundred day moving average price of $28.16. HDFC Bank has a 52-week low of $22.91 and a 52-week high of $39.81.

Insider Activity at HDFC Bank

In other news, insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock in a transaction on 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 in the company, valued at $7,586,108.52. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider N Srinivasan sold 10,000 shares of the business’s 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 $5,567,039.84. The trade was 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 sold 21,600 shares of company stock worth $189,560. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On HDFC Bank

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings 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 valued at $29,000 after purchasing an additional 403 shares during the period. Axiom Investment Management LLC acquired a new stake in shares of HDFC Bank in the 1st quarter valued at about $32,000. Bell Investment Advisors Inc grew its stake in shares of HDFC Bank by 260.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock valued at $34,000 after buying an additional 1,002 shares during the period. Pin Oak Investment Advisors Inc. increased its position 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 buying an additional 498 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in HDFC Bank in the 3rd quarter valued at about $43,000. 17.61% of the stock is owned by institutional investors.

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).